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Article: IVANHOE AUSTRALIA COULD PICK UP ASSETS FROM FAILED COPPERCO.

Article from:
AsiaPulse News
Article date:
December 8, 2008
Copyright

PERTH, Dec 8 Asia Pulse - Ivanhoe Australia Ltd (ASX:IVA), led by mining magnate Robert Friedland, has flagged it may seek the assets of copper miner CopperCo Ltd (ASX:CUO).

Ivanhoe also said on Monday that it had discovered high-grade molybdenum and rhenium at its Mount Dore project in Queensland's Cloncurry region.

Shares in the company, chaired by the American billionaire, were up six cents to 32 cents.

Chief executive Peter Reeve told AAP that Ivanhoe's Australian arm was cashed-up, with A$70 million (US$45.48 million) in the bank for exploration and possible acquisitions.

It would potentially run the rule over the assets of ...

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