Bagso, I'm sure I've explained this before. IFM didn't set out the terms of the deal - MAG did. MAG only needed third party capital if their bid for STN was successful. Hence they invited in potential new shareholders on the condition that the deal would only proceed if MAG won STN.
Without the STN deal MAG had no immediate need for new capital, whether from IFM or any other bidder.
It is simply incorrect to infer from this that IFM has any preference to invest in STN over MAN.