ozopals, if IVA decided to doa buy-back with the cash they have, the market would immediately smash them to 5c, if not lower. The company has to conserve cash, keep an eye on costs- and they are doing that- and just buckle down and get some good news out on Merlin. The lower the share price goes, the more attractive it is to insto's. It is loss-making for now, though, and it is on a downward spiral. Those 48c placement people would be sweating.
The title is "special dividend"- maybe IVA can sell Merlin and make some kind of return to shareholders? Or they could sell Merlin and put the funds back into Osborne and Mt Elliot.
IVA Price at posting:
9.8¢ Sentiment: None Disclosure: Not Held
