Personally, I'm very happy with this result. Local raise in Zim should hopefully reduce some of the games being played on the ASX with this one. You'd expect them to secure the $10M USD but we have to wait until the book closes. I would have preferred them saying "Yeah we got the US15M at the announcement this morning but it is Sunday night in Zim so I guess they are just letting us know what they know.
It's a little frustrating that this didn't happen months ago but I suspect with the new head of the MIF in place the local investors were waiting until they were given the green light. We have MIF on board, PPSA inbound, some extra cash in the bank and should be pushing back above 10c and beyond very shortly.
Looking forward to hearing what they have to say at 10:30am.
Let's go find us an Elephant!!
IVZ Price at posting:
9.1¢ Sentiment: None Disclosure: Held
