Seeking Alpha: Ivanhoe Mines – Nothing Much has Changed

Ivanhoe Mines (IVN) made two major announcements on April 18, 2012, that should not have surprised anyone and do not change the volatile outlook for the company through Mongolia’s national elections in June 2012. Yet, Ivanhoe Mines shareholders rejoiced and sent the shares 16% higher on April 18 after losing about 25% in the prior 11 trading sessions. Announcement 1 – Friedland Resigns: CEO Robert Friedland and multiple members of the board are resigning. Rio Tinto (RIO)management will step into their place. We have known this would happen eventually since December 13, 2011, when Ivanhoe Mines lost an arbitration hearing to Rio Tinto that cleared the way for Rio Tinto to take over Ivanhoe Mines. And this has certainly been clear since January 25, 2012, when Rio Tinto raised its stake in Ivanhoe Mines to 51%. Bloomberg wrote two days later that they anticipated Rio Tinto would change management at Ivanhoe Mines. To read the full article, click hereIvanhoe Mines – Nothing Much has Changed

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