According to The Australian, Bain is selling 37m IMD shares at 60c a piece. I am guessing IMD was given the option to cash settle the warrants but declined to do so.
imo, probably a positive - the uncertainty surrounding the warrants is now removed. But 37m shares @ 60c seems quite a lot for the market to absorb, so large gains probably unlikely in the short term, unless metal prices explode upwards.
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