Well on a comparative basis I scratch my head as to why Terramin :TZN is sitting with a market cap of 10 times that of IBG. They have $17.5 in debt as well! A quick look at a recent presentation of theirs shows the NPV of the potential Zinc project at A$260m and the potential gold project with an NPV of A$100m.
If JD can get US$80 for half the project then that would have IBG's share of Capex 30% funded. The remaining 70% may be close to obtainable under full debt funding. If they can avoid any more significant dilution, then retaining 50% and hopefully control would be an outcome I would be extremely pleased with at this point.
Yeatesy.
IBG Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
