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.
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $4.231M |
Open | High | Low | Value | Volume |
0.2¢ | 0.3¢ | 0.2¢ | $55 | 26.27K |
Buyers (Bids)
No. | Vol. | Price($) |
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24 | 28844987 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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0.3¢ | 2799186 | 4 |
View Market Depth
No. | Vol. | Price($) |
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24 | 28844987 | 0.002 |
10 | 10900488 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 2799186 | 4 |
0.004 | 30248456 | 19 |
0.005 | 2500000 | 4 |
0.006 | 5000000 | 3 |
0.007 | 715300 | 3 |
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