Ann: IMX signs Heads of Agreement to sell Mt Wood, page-37

re: Ann: IXR: IMX signs Heads of Agreement to... Thanks Pilatus,

A classic case of money burning a hole in the pocket?

They needed that money to develop PH and pay the debt. As i recall the actual debt was not that large with respect to asset value, and may have been paid off if Avebury had not occurred despite it being an ZFX purchase before the merger actually occurred but after the merger was announced.

My main pint is that it pays to be careful with M&As and there needs to be a strategy around capital management. I think that is what we are missing at the moment.

The strategy needs to:
1. Encompass what we are doing with available cash
2. Identify extra capital becoming available through excess yearly cash flow
3. Expected developmental expenses for PH and Big C
4. Any capital raisings or capital returns to shareholders expected
5. Should be over a 5 - 10 year timeframe

i have yet to see such a capital management strategy stated although I am confident it is in heads of the management.

My thoughts only

As yet