SIR put out a presentation this week, so maybe they drummed up a bit of buying in the process.
I can see how IGO would be interested in SIRs nickel project, but I can't see them being able to make the numbers stack up for their shareholders, and having been through the JML debacle I would expect the exercise of a lot more caution. Might be good for them to get access to the data room now, have a good look through, and then sit back with the idea that if SIR stumble in execution, or something else, they are ready to make a decision much quicker. Bear in mind that SIR sp may go nowhere for 12 or more months as holders fret about execution esp if sector market sentiment tanks again. Of course meantime IGO is collecting cash at a fair rate, and might be able to offer a cash plus script option. Taking on a big junk of debt would be more realistic as the asset being acquired is closer to production.
Really I'm ho SIR is too big a bite for IGO to take, unless SIR stumbles badly.
Have held IGO since 2004.
EL
SIR Price at posting:
$3.13 Sentiment: Hold Disclosure: Not Held
IGO Price at posting:
$5.81 Sentiment: Hold Disclosure: Held
