We all knew that NKP were going to extend the option to purchase. It was in their appendix 3B posted on 6th Feb.
They had to extend the option if they were to complete the sale by March 31, as per a recent announcement.
Why all of a sudden a selldown. Shouldn't this have occurred on the 6th?? Didn't need an announcement to tell us what we already knew.
Obviously people are reading the 6 months extension, not the fact that this could be wrapped up by end of next month. Also people are afraid that NKP won't be able to raise the money. What then?? Then IGC still has a world class platinum asset when platinum prices are clawing there way back.
I think the value of the resource will be more than $60 mill at end of March so NKP are getting good value from the purchase and the shareholders that purchased under 40c are getting value also.
I just don't get it..
(Maybe CFE can lend the dough...)
IGC Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
