IBR needs a CIL plant for the stage 11 development. They dont have one and would have needed to spend lots of capital(they dont have, more dillution) to build one.
Maybe if you understood the current limted production capability that IBR have you might come to understand that the TMR deal is a godsend for IBR holders.
Maybe you should also look at the prospects of TMR without IBR. You might find that TMR's prospects were much better than IBR.
I personally think TMR is paying too much and have and am very happy to now be holding TMR shares.
IBR's assets will be much more valuable in the hands of TMR. They have the management and financial resources to develop them without dilluting the crap out of them.
IBR
iberian resources limited
