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If anyones up for a punt (on the market not the horses), Xtrata have just announced that they are reopening their HandleBar Hill Zinc/lead/silver mine in Mt Isa, having closed it in Feb this year. . IDL through their Huddys subsidiary, operated the mine for XTRATA. It was a big part of the Huddys business, and IDL took a bit of a bath for it. They took a 17.5 mill impairment charge, not small bikies. Now there is no guarantee that Huddys will get the Mt Isa contract, nor that it won't be at lower rates, but I reckon if they do, there should be enough for bit of a scalp in IDL.

 

Mick

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Have heard from people on the ground that IDL is resuming mining at Handlebar.

Interesting that IDL have not thought it of sufficient importance to make an announcement

to the market. It may mean that they are only starting small scale,

or that it is only on a per hour/per day basis till a contract is done.

Now up about 8% since I bought in.

Mick

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SP probably rising on that development Mick; my amateur TA says 48c was resistance, through that now. If IDL can pull full year profit of about $40m, they're valued at over 100c. They were better buying in the low teens, but the market had to catch up at some stage.

 

Cheers

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