Very interesting as far as dogs go. They have just announced acquisition of remaining 50% in One Company for .... drum roll ..... $10m. Half of that in cash, the other half in scrip. The interesting thing with this deal, is that market is valueing ICP for just $7m, yet they have just flagged to us that the business is worth 20m. The scrip part of the deal is 16c per share. Much higher than 7.5c, and the cash component of the deal is subject to earnings being met. ICP before this deal had 11m in cash and 22c in NTA. Something just isnt right here. I gained comfort in director buying sub 7c level, so have been accumulating over the last couple of weeks. Not one to back the truck, but I think its certainly worth a punt down here, and the chart looks sexy.
STL Price at posting:
7.6¢ Sentiment: Buy Disclosure: Held
