if you believed TS then the IPO should of been ready to go as soon as markets improved since they have been planning it for a year
so it is amazing that they are still writing the prospectus and are yet to appoint a lead broker
and if they cant sell Marampa it puts a big question mark over the value of all their other iron ore assets so there is still signficant downside risk to the share price
though I expect TS will keep lowering the valuation to ensure the IPO is a success
CFE Price at posting:
51.0¢ Sentiment: Hold Disclosure: Held
