With IVA looking like powering along after a brief pause, I'm inclined to take a look at the neighbours. I think I must lean towards SMD (Kalman South project)which is only capitalised at $6 million with $4 million in the bank. KMN, who is earning an interest in Kalman South, is capitalised at $30 million and currently has a SPP in play at 7.2 cps. AIV might be closest to Merlin, but SMD looks best of those three to me (except perhaps illiquid). Overall though, the Rhenium game may best best played by sticking with IVA.
SMD Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
