If I were an IBR holder who accepted tmr shares I would get the hell out of there quick smart.
Come Friday when the penny drops and people then see tmr hasn't got 90% control of IBR, with 950m shares on issue, no cash on hand [ only had 1m$ left at end of last quarter - 2 mths ago ] , bugger all cash flow[negative cash flow of 7m$ last quarter], falling world copper prices and unable to take IBR's 9m$ coh and having committed 3.5m$ to purchase Charters Towers gold plant, without any money, and unable to direct IBR funds to it without miniority shareholder approval.Would appear a pretty bleak picture in deed.
Looks like this thing is on its way back to 10 cents where it was 12 mths ago in its previous life as SMO.
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IBR
iberian resources limited
tmr on way back to 10 cents
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