I hear you Winky, something is going on. IVA keeps getting hit, while most commodity stocks are rallying. I guess OZL (or whoever) could easily be pushing the SP down given the light volume. Normally that would be a useful tactic. HOWEVER, the problem with that theory is that they still need IVN to sell, and I just don't see Robert Friedland letting IVA go for a song simply because the SP has been hit. If you look at his presentation at the recent Diggers & Dealers conference, he is super bullish (he believes IVN is worth $43). So I keep coming back to RIO. If they are going to take control of IVN, they must have a plan for IVA, South Gobi Resources and the unlisted Kazakhstan Gold Explorer. As South Gobi has been rallying recently (as has Aspire Mining Ltd), this suggests (albeit tenuosly) that maybe they're happy to let IVA go. And given the size of the IVN deal, the sale price for IVA is probably a rounding error. And it's not like the majors have never dumped projects way below fair value before! Just a theory with no evidence. I would love to hear from some of the investors who have sold IVA over the past month as to why they stopped loving IVA??
IVA Price at posting:
$1.56 Sentiment: Buy Disclosure: Held
