Thanks for the article, richrichie. This article in the AFR, May...

Thanks for the article, richrichie. This article in the AFR, May 1, says Merlin has capex requirements of $345m, and that Mt Elliot needs around $1.2b in funding.

http://tools.afr.com/viewer.aspx?ATL://cd8dbb1c-931f-11e1-a6a4-905b799ee02d§ion=tools

IVA definitely needs a major to have involvement. If OZL took it over, it would relieve the burden of IVA and provide OZL's stakeholders with some certainty over use of its war chest, which has long been the bain of shareholders.

IVA is probably the takeover target of the moment, but how low can it still go? I reckon it would be better value for IVA to be taken as a whole, rather than just parts of it... better for the suitor at least. Boy, it's looking distressed.