We know that IVA is well funded to go forward with it's mining plans with around $85mm in available cash and further $30mm EXCO dividend to come later this year. Acquisition of the Osborne mine will enable IVA to commence mining sooner than planned with substantial cost savings and our growing resource base has excellent grades of minerals, some of which are very rare.
The current declining SP price seems to be unexplainable in the circumstances having regard to how far IVA has progressed in the last couple of years. So, I see this as an opportunity that I never dreamed would arise and that I want to take advantage of. My sentiment has therefore changed to ST Buy and I will see how this plays out in the next couple of weeks. In the circumstances it is not in my best interests to agitate for an explanation from the company or for ASX to issue a please explain in case this should arrest the current trend.
ANZ
IVA Price at posting:
$1.52 Sentiment: ST Buy Disclosure: Held
