Interesting development. The royalty is pure economic rent and is extremely valuable. It has been a fantastic stabiliser of the volatile mineral sands business.
Nothing is forever. It makes sense to consider cashing in chips now BHP is fully committed to Area C and IO prices are high.
I earlier dismissed separation as this was presented as 'simplifying' ILU and trousering cash.
Nor does ILU need the money, with the Quarterly showing net debt at $89m, down from $142m June 30.
Perhaps ILU has its eye on a takeover of eg Base Resources to broaden and deepen its offering.. Sale of the royalty would more than fund any such initiative.
Ash
Ann: Review of Mineral Sands Operations & Mining Area C Royalty, page-2
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Last
$6.65 |
Change
-0.240(3.48%) |
Mkt cap ! $2.845B | |||
| Open | High | Low | Value | Volume |
| $6.89 | $6.98 | $6.65 | $13.15M | 1.947M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5670 | $6.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.66 | 39990 | 3 |
View Market Depth
| Last trade - 16.10pm 13/06/2024 (20 minute delay) ? |
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Last
$6.66 |
Change
-0.240 ( 3.95 %) |
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| Open | High | Low | Volume | ||
| $6.90 | $6.98 | $6.66 | 492297 | ||
| Last updated 15.59pm 13/06/2024 ? | |||||
| ILU (ASX) Chart |