I'll take the 5'ish per share any day. It just occurred to me that Stokes has no interest to mine. He is a business man who is fattening the JORC numbers before taking the IOH goat to the bazaar.
Been mopping up some more IOH shares this week after reading 2 pieces of information. Firstly, about AQA selling out Washpool and other assets (amounting to $1 Billion) all to reinvest in the Pilbara. Second, thee last point of the IOH quarterly report mentions monetisation - NOT mining ! See...Stokes will flog the company off bit by bit. One slides mentions the resources as like that of 3 independent businesses. There you go !
Okay, the problem with AQA (compared to FMG - with whom there is a fight over the size of Anketell and who gets the say about how's it's done) is that AQA's resource (relative tonnage) is pretty puny.
Hence IOH's Western hub is highly prized as a acquisition asset. AQA will have plenty of cash soon.
IV and Central tenaments can be contested between RIO and FMG.
IOH can also do a WPG. That is write out a cheque for $4 as a franked dividend and then we still keep the same number of shares for what's unsold like the coastal magnetite.
Beats me why the SP is trading at $1.20 ??
IOH Price at posting:
$1.21 Sentiment: Buy Disclosure: Held
