Maybe, maybe not. What happens if the new management (majority controlled by TMR) decide to do a rights issue to fund the Armenian operation.....they are going to be looking for a bundle of cash to get everything up and running.
Maybe I have missed something, but in spite of all the hooplah about Armenia being in production (I believe someone made that comment) I can't seem to find any information on Gold Sales. This means they aren't producion any.
Bank loans on the basis of no production are usually pretty stiff and have all sorys of optionality attached.
The naysayers who remain will either have to put their hands in their pockets or be diluted down, and as it is an illiquid stock, departures from the register might be hard come by without taking a bath.
I think those that remain as minorities, might have unrealistic expectations...
IBR
iberian resources limited
