rang up the company and spoke to head of public relations ( name withheld). Initially first point of contact was front desk , I mentioned the phrase "share price set for collapse" the secretary responce was in around about way , i value my job and do all i can to make sure it don't happen . Later head of public relations returned my call , i asked him is there anything going on the company that has reduced its value to a negligible amount .
He said to me the item that he thinks had the most impact on SP is the fact the parent owner RIO have put their stake in company for sale , since that info was known by insto,s they stopped buying into IVA until majority ownership issue is resolved . Copper and gold have all had a bearing on this as well .
He said IVA staff are concerned and aware as well , HE said the day to day operation of the mine is all on track, also the yields are expected to improve as they refine the mix of earth from the 2 mines in the process plant . From memory it was mentioned that IVA received $16 mil from shipment last week. Generally upbeat vibes about the operation where relayed and he was perplexed that this is happening to their employer .
Also explained there was a separate aspect to the SP which is real and affects every one , and is completely out of their control, I think this company is well managed and is functioning ok . Hope this info helps .
IVA Price at posting:
11.5¢ Sentiment: None Disclosure: Held
