IMC is a successful and hard nosed multinational and multi billion dollar company and would cut a bad investment in a second if they needed too. They wouldn’t survive in the cut-throat global business world if they operated in any other way. They certainly do have a choice.
The truth is that despite the panic selling, the poor quarterly, the delays, the cash flow problems, the need for additional debt and all the other issues this mine upgrade is not finished yet - and hence the benefits remain undelivered.
IMC understands the risks and rewards and have made a decision to back Moy as have many other investors, including me. We may be wrong but we have (hopefully) all done our homework.
For the record totally agree that IMC so far have been Moy’s saviour.
MOY Price at posting:
5.9¢ Sentiment: Hold Disclosure: Held
