The planned IPO for IG was 20cps starting point and now they’ve got all this premium quality graphite to realise so most likely it’s going open up strong ,25% of a company with the resource waiting to be transferred into a cash cow so what’s not to like about it when you don’t have to commit any more expenditure for extraction and workforce.The big question becomes whether to hold or sell and that will depend on IG’s SP at any point in time and Comet’s need for cash to sustain any other projects moving forward. In hindsight we might find Matt doing similar deals with all the other assets as well like a free carry strategy and picking up other opportunities as they arise. ESS rolls this way and its finally starting to pay off . I’m only guessing myself but this was a curve ball which was a surprise so who knows .
CRL Price at posting:
2.4¢ Sentiment: Hold Disclosure: Held
