Also the pricing gets worse if you include IOH's cash balance of...

Also the pricing gets worse if you include IOH's cash balance of circa $60m.

Im not really sure what to make of this. Perhaps we (IOH shareholders) get a dividend paying company now with growth prospects, so the combined IOH+BCI group gets re-rated by the market? Thats what both BCI and Stokes is thinking?

But still, Min is expecting a 6mpta production rate at iron Valley, and there is nothing in the announcement about plans for Bucklands and funding. Perhaps there arent any takers and we need a stronger balance sheet to debt fund?