Well colinchi!!You have done the right thing buying all the way down!! If you look at this company at these prices I cannot see much downside.The sheep have all run to the banks,telstra etc but the metals will have their day in the sun. I climbed back on board today at 10.5 and I had to wrestle with my self over it but I really cannot see any problem.The board will have to be downsized they will need to trim down!! They can do it.Some people are saying the company will totally collapse but they are more likely to have a long hard look at their operation and trim down,they can stop exploration etc.Hammers mentioned a possibilty of a takeover but cannot see that happening under 25-30cents if at all.There would be many shareholders happy to wait for better cu and gold prices.There has been some comment on where the $500m has gone that has been sunk into this company well I reckon half went on bloated salaries and bonuses,I don't think board members are rushing to buy shares, their noses are so far in the trough they haven't looked up to see whats going on.Since Rio announced they wanted out they are all running around wondering where they are going. I would say many are going out as once things are sorted there will be some severe changes on the way.
IVA Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
