bottom line is TMR won't get past 90% - just you watch this space .......
you can speculate all you like with your what if's, but the bottom line will remain the bottome line .. and that is TMR won't get past 90%
and if TMR want to mop up the remainder then they will have to come back with a more realistic offer. Lets face facts:-
1. IBR resource is worth 4 times that of TMR’s resource
2. TMR has 4 and a half times more shares on issue as IBR
3. Copper price is presently at an all time high
4. Gold price is climbing and expected to go much higher
a quick calculation on points 1. and 2. above tells you the TMR offer should be at 18 to 1 (ie. 4 x 4.5 = 18) which on this basis appears fair and reasonable.
Significant upside still offered from the IBR acquisition, by a rising gold price going forward, where as copper appears to have already maxed out.
Good luck to all the long term IBR holders
IBR
iberian resources limited
