Seems like you are a thinker and understand a bit around risk,...

Seems like you are a thinker and understand a bit around risk, so respect that.

I also say this with increasing concerns there does not seem to be accumulation yet and I thought there would.

In this case, your views this time, I dunno. Seems there is a few (3) very material impediments here. Glencore being one of them, Nyrstar the other. Hows does someone get around that.

Yes I suspect Glencore in particular may very well have taken a defensive position in IBG. Seeking to protect impacts on their broader Zinc book, and beyond that being a part of anything that might change it.

I have been around these guys in a senior career in Resources Marketing and Trading. They think long, and are always the smartest guy in the room, possibly also the most ruthless. They dont get involved for no reason, and could also take this out with a net hour or few of income should they to choose to do so.

As for the other guy, well he surely is pretty liquid but seriously how far in the money (or out is he). He's no doubt in for the long haul also, it could transform the net he's got into a real lot of nets.

Looks to me, these are nothing but small scale guys, scalping/trading. Trading a 0.1c price increase. They hope that by selling $200 bucks of shares into the market on the close for 0.1c below, they maybe match it with a big order on the buy-side. Hoping it triggers a few panicky sellers at that price and they buy 100k shares and hope to trade it. Its a legit strategy, to them. For now. Well if you think a $200 profit twice a week is money, then all power to them.

This all changes hopefully once we see real numbers.

To me this is irrelevant, its a long game play. Too many very real and validated reasons why this should go ahead. To me the real risk is can the Exec convert, and they seem to be doing the right things there.