My valuation depends on the timing of when an offer is made. It...

My valuation depends on the timing of when an offer is made. It would have to be pretty substantial to justify me taking the offer. To any parties reading this, consider the following:

- I don't care what the SP does and won't be emotionally moved by it
- I don't have any issues remaining solvent and holding my position for years
- I do not trade my shares and just hold them while the company gets to work

I can imagine that most of the other top 40 holders are like me. I don't believe you can build a large enough stake just with the usual market shenanigans here. You no doubt would aim to pick off the more financially insecure holders or emotional ones first and consolidate a position as low as possible, but eventually you'll run into the top 40 and we're more than aware of the value of what's in the ground here.

Speaking for myself personally, I'm not against a reasonable offer being made early BUT it would have to be reasonable. The more de-risking this project gets the higher my takeover figure goes.

At this current stage the offer would have to be in the billions (for MC). If you are looking at this you know full well playing your hand too early with a lowball offer will work against you. Playing it too late will also increase the amount you pay.

Otherwise I'm happy to watch this play out. We are talking about hundreds of billions of IGV here and a true tier 1 deposit with potentially the lowest opex in Australia. A true competitor to indonesian nickel. There are no peers on the ASX when it comes to size and opex combined and I know majors look for that.