The Paterson province is definitely heating up and IGO does not want to miss out
you have multiple big companies wanting a piece of the action and doing j/v with these smaller "junior" players - paying premiums but for a much "bigger" slice of the pie.
I.e. RIO J/V with AZY for $60m expenditure for 75% of the project and now IGO $15m earn in for 70% of the project
imo. I think its very opportunistic for IGO to take a stake in ENR , ENR would most likely have declined the deal if IGO did not take a $1.8m stake @60% premium
nevertheless, market is disappointed that ENR could be potentially giving away a big slice of the pie for a tiny $15m +$1.8m share placement
all jimo.
TraderRR
ENR Price at posting:
6.2¢ Sentiment: Hold Disclosure: Not Held
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