56% reduction is about right, col. It is 100%+ to get up to the rights price, but the share price can't fall by 150%, because nothing can fall more than 100%. Percentage calculator (I use it all the time, or I'd be stuffed on shares):
Rethinking IVA, if IVA only had operating copper mines, the market cap might seem fairly normal (NMG and SRQ are examples of operatingmines with dreadful market caps). However, IVA has what SFR and SIR have- a world-class discovery in Merlin. Anything that has a world-class discovery- because there are so few of them- should have enormous capacity. SFR was $1b market cap, but has eased off- it's still profitable and is operating. SIR has eased off, but was $1b. It's share price will ease off significantly, imo, when it needs to raise for mining- a long way off. So, IVA is $100m market cap, but has what no-one else really has, in Merlin. It is clearly not IVA's time YET- given the share price keeps falling, but how long can it be?
IVA Price at posting:
20.5¢ Sentiment: None Disclosure: Not Held
