I also think capital market stoday are much less generous when compared to 12 or even 6 months ago and this should be taken into consideration. All of us on HC (including me) live ina bit of a bubble when it comes to IVZ, as promising as it appears to be it is not without risks, and the deals we can make (farm in or CR) will ultimately reflect this. to expect the SP to keep running up above 30cents (nearing 250m market cap) without a discovery is also not realistic, the market would have recognised this eventually and marked the SP down. So yes a CR now may be the best option. Easy for us to judge in hindsight but SM is Johnny on the spot and he has to call it as he see it.
