Why wait for a 5-10 cent return of capital to shareholders,...

Why wait for a 5-10 cent return of capital to shareholders, surely as holders at present you would be better selling now and receive 12-14 cents per share. No cash backing or asset value what would the residual share price be?

If as you state there is no value attached to the copper how could LMIII sell it on for price equivalent to actual investment. If you could attribute value best you could expect in present market is an optimistic A$ 20 million.

As far as I am concerned Lloyd Miller would not be adding shareholder value but depleting it.

Regardless of what Glencore are up to with their mines the Zambian government are not taking kindly to companies wanting to reduce or suspend activities. This could result in IAU being stripped of their mining licence under “Mines and Minerals Development Act Number 7 of 2008”. Also understand that to sell on you need approval of Minister of Mines (something which is never guaranteed).

Note that no poster here has appears in the past to have placed any pressure on IAU board to restructure and reduce costs but just pass comment on various announcements.

Bear in mind employees are paid according to the terms of their contracts, so can be difficult to reduce some of these costs when considered as too high.

The share buyback was a shareholder approved option and not a guarantee that would take place, and there could possibly be some under-lying reasons why they have not been able to instigate it too date.

If cash is returned to shareholders and copper price changes making the Kitumba project viable then a cash raising will be required and will be at a heavily discounted price and dilution of shares.

The share price has been depressed by the selling out by funds after merger and has been held down since by short-sellers and BOT trading activity aided by the loss of market faith in commodities for time being. Bear in mind that Chinese have shorted copper heavily which is why price is where it is. According to most analysts commodities has been bobbing along at the bottom of cycle and should start to recover in the near term.

Think that the incumbent board is the best option and that the shareholders should put direct pressure on them in the future rather than just posting disgruntled comments Hotcopper.