IRN
Stock Code
Stock Exchange
Indophil Resources NL (IRN) is a mineral explorer, with a core focus on gold and copper exploration and development in South East Asia. The Company’s operations are held in Australia and Philippines. The principal asset of the Company is Tampakran gold/copper deposit located in the southern Philippines, and it is the largest undeveloped gold/copper deposit in the Southeast Asia region. Indophil listed on the ASX on May 3rd, 2002. The Company is focused on the development of the Tampakan Copper-Gold Project, which is a joint venture with Xstrata Copper.
Anglo Swiss Global miner Xstrata has decided to match the rival bid for Australian listed Indophil Resources Limited. It has currently placed its bid for $1 per share as the take over bid for INdophil Resources. The Crosby consortium led by Hong Kong bank currently leads the take over proposal with its $1.28 per share bid. Xstrata had announced on Friday that it shall not lift its bid of $1.00 per share but now seems to have quickly changed its mind and decided to match the $488 million take over bid for the giant underdeveloped copper mine in Philippines.
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