mozzie, i'll have a go with my general thoughts on the takeover.
I'd say all of us are disappointed with the SP. I do believe there is a distinct floor with the SP- 86c was the price San Miguel paid for the placement, and it's the pri ce they've referred to in the media. We are close to that price now, and I don't believe it would go low *except* if the T/O does not happen (and then it could fall to 68c or whatever the price was before the takeover talk occurred. This is just the same with all takoevers, though- no big deal, really.
The IRN situation has not changed- still about 6 years until it is able to mine, so exploring right now. The community discussions taking place, even if they don't result in a positive outcome right now, won't change much- they could always occur later, and I am sure SMC knows that. Open pit mining was banned when SMC bought into IRN, so that shouldn't be an issue- it seems they want the asset- and there is richness in them hills.
SMC has been going on a buying spree right now. That might be a worry- they must be loaded to buy everything in sight. Maybe they are loaded and can afford IRN too- one would imagine that to be the case. Perhaps it is in their interest that we are close to the placement price. Maybe they'll offer 30% in addition to the placement price, or 50% to look generous.
If this takeover happens, these prices are a bargain. If SMC doesn't buy IRN, someone else might. If no takoever happens, these prices are not a bargain.
As to technical matters, someone else might know something. I'm more interested in if the T/O will occur- the share prices are awful right now (unless one wished to buy or buy more, in which case, they'd be liking these prices).
None us us have any idea, really- only the players in the game, but it's good to discuss. Sentiment amongst shareholders is probably a bit low right now.
- Forums
- ASX - By Stock
- IRN
- any thoughts on the takeover.
any thoughts on the takeover., page-2
-
- There are more pages in this discussion • 12 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add IRN (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online