Speculation mounts re Sirius' Independence, page-205

Milesy,

If IGO were not buying SIR then yes it would already be deep into buy territory imo, but the deal removes the cash, probably gives it debt, and gives it a heap of new risk. It also, contrary to your assertion otherwise, makes it much less diversified. Nickel will dominate revenue more than gold does now.

If you are so sure of a big upturn in the pon, a gamble imho, then there are plenty of other stocks that give you more lb Ni per $ market cap.

In general imho your arguments mostly simply defy the facts. IGO was ticking along very nicely before this deal, and it's growing cash pile was giving it options to replace Long etc in good time, without giving so much away in the process.

EL