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Ivanhoe Mines Ltd. (IVN) really knocking the cover off the ball this morning. No idea if it will hold as it seems there will be a fight with Rio Tinto as I read it

8:26AM Ivanhoe Mines advises Rio Tinto (RTP) of termination of restrictions on potential new strategic investors (IVN) 14.43 : Co announced that Ivanhoe Mines has exercised its contractual right and given 60 days advance notice to Rio Tinto of a forthcoming change in the agreement governing Rio Tinto's investment in Ivanhoe Mines. Mr. Huberman said that a meeting of the Ivanhoe Mines Board of Directors yesterday authorized the termination of the Strategic Purchaser Covenant that has restricted the ability of Ivanhoe to issue shares to strategic investors since October 2007. The termination of the covenant will permit Ivanhoe to issue more than 5% of its common shares to one or more third-party strategic investors, which could include major mining companies. Andrew Harding, Chief Executive of Rio Tinto's copper division, resigned from the Ivanhoe Mines Board of Directors before yesterday's meeting.

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