What is the reason for the 'Material Placement'?
I can think of a few different options.
Option 1:
What if the recent 'slow down' of activities at Lichkvaz has flushed out the 'recalcitrent shareholders' who preveneted a 100% take over of Iberian? These approxiamtely 14% missing shares equate to roughly 7% of Tamaya's capital, which would make it a material placement.
Option 2:
Arco iris drilling results are so spectacular that the board is super keen to get it into production ASAP and to do this they need lots of money.
Option 3:
Toronto listing. The board is disappointed that the share price is where it is, but bites the sour apple and goes ahead with a listing through a Toronto broker anyway.
What do you think?
Cheers,
IHS
material placement for what
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