its hard to believe that the share price has gone from 1.8 to 1.15 in less than a month, the company is in better position than it was last year, they are producing copper and the price is high at the moment. the company now is talking to multiple parties regarding to sell minority interest in their queensland projects, and it has received 8-10 indicative offers, they expect to have formal offers by May and funding finalised by June, all sounds good to me.
After the change of management last week, Rio has made clear that they are only interested in the mangolian copper and gold assets. The potential parties now may offer to buy out their stake in IVA instead of taking minority interest in the projects. The company is not looking for fire sales so they should be able to get some reasonable offers.And M&G has increased their stake from 5% to 11%, so i am not worried, and will be holding this one for long term. Once they get merlin project going, they will have huge cashflow. Good luck to all the holders.
IVA Price at posting:
$1.14 Sentiment: Hold Disclosure: Held
