Only 52c a share cash, for those expecting a multibagger on production, they are sorely dissappointed, igo takes sir main projects, $240M of its cash n $480M of its debt facility leaves MB with a small gold company n igo shares only.
sir lth now become igo lths n s2 lths...not bad from 5c to 4.38 in the end but notgood for lt for sir lths, they are subsumed into igo n lose MB their ceo. Dennis coo position in doubt also.
this deal benefits igo as it doesnt pay much in cash, gets the assets at a low np.
So ni bulls will sell out of this at cash on market, expect massive volume sales at 4.40 on relisting as sir lth sell out. They will then move into the other pure play ni stocks like wsa, mbn, pos, mcr, pan...they are the only ones left.
sell sir in cash on market as igo will drop on this.
IGO Price at posting:
$5.34 Sentiment: None Disclosure: Not Held
SIR Price at posting:
$3.90 Sentiment: None Disclosure: Not Held
