Looks like the 'plunge protection team' stepped in today. Geez, wouldn't it be good to have a broker who knew when the next tranch of share buy-back would take place.... :0
I really dislike the concept of waiting on a competitor (FMG, RIO, BHP etc) to unlock the value of IOH. KS must be getting well pi$$ed off with the wait, in alomst any other 5 year period in the last 50 he would have nailed it with IOH, but now we all wait and see what on Earth is going to happen with Europe etc etc.
I agree that the buy-back could have been done differently, perhaps faster in an attempt to bring potential investors in out of the sidelines, or much slower to drag the buy-back out over the 12-18mths it may take for the FMG move. At least the company can still put another 10mil on the table if required to buy out all the impatient sellers if things turn nasty.
If you have spare coin (as opposed to a big mortgage!) then IOH will have to have a turn of fortune one day!
Good luck.
IOH Price at posting:
$1.24 Sentiment: LT Buy Disclosure: Not Held
