Finicky, Could it be that they are selling those strategic investments to make anothe strategic investment in the IMRP. I didnt read into the notice they were rushing into the sale?
They said
"Intec has engaged Royal Bank of Canada to initiate the ORDERLY sale by tender of the Hellyer Mill, tailings dam and associated infrastructure over coming months."
That is not a fire sale :-) Timing may be bad, but good assets are always easy to sell.
For BSM it is a chance of a lifetime to get a plant that exists on the doorstep of both their ore bodies and is running. A cheap bid would be foolish for them, as the breakup value would be still be considerable even in bad times I think. Companies buy items like these as strategic reserves for operations due to the lead times for replacements also.
"Proceeds of sale will be used to retire debt and as working capital in furthering the Intec Metals Recycling Project."
That says to me they want to be debt free and concentrate on the IMRP.
I guess its more wait and see.
SDV Price at posting:
23.0¢ Sentiment: Hold Disclosure: Held
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