I hear what you’re saying KDWC, surely this resource is...

I hear what you’re saying KDWC, surely this resource is extremely valuable, and I have often wondered over the last decade why It hadn’t been snapped up by negotiation or even a takeover to secure such a resource. What I did fear was that the two larger shareholders such as Nyrstar and Glencore although had an offtake agreement for 70% of the zinc is that it was not to develop the mine, but to take a position themselves to ensure the supply didn’t get to market to interfere with their trading profits. This offtake agreement also provided them a disincentive to buy or develop. Why would they risk their own capital mining when they could buy 70% of the product at market? If by some stroke of fortune IBG folded, then they could get the resource almost for free.Today they have less of a percentage holding (thanks to Danny and many cap raises) so are not in a position to control any future voting on an asset sale, if it comes to that. There is still a risk of the major shareholders taking the company private at a nominal price once the finance is approved and risk removed. This is why the shareholder base needs more retail in it to ensure this doesn’t happen.
Having said that, I am more hopeful than ever that a favourable outcome is in store for this company as it has survived quite a long time and achieved many milestones despite the hurdles and setbacks, including the GFC.