re: keen buyer wants your shares
I dont know if those loans from CFE relate to this deal.
But I would be surprised if at lease one of those loans isn't for that purpose.
As far as I know, A tradional funder & Xstrata have taken care of the $60M so I guess that leaves CFE to do the heavy lifting on the oppies (me speculating of course). However it may be just TS using his contacts to line up that funding but I wouldn't be surpised if CFE is earning an interest above its existing 10M shares by funding the oppies for the BEG fellows. TS knows how to get a get an earn when deals are being done. The BEG gang certainly have plenty of security available to stump up. The risk to a resource funder is pretty limited.
Everyone seems to know what part they are playing at least.
Of course its not done until it actually happens but the horse is coming down the straight now. No question the target date is pre 30/6/09. You can take that point to the bank.
Given the discount of the share price against the value of the asset and cash, I reckon its not a big risk to just sit and wait in IGC. Beats working for a living if you collect 40 cents by 30 June 09.
By the way, I believe Xstrata are very very keen for it to be completed. I guess they want to earn a 50% JV interest in the whole show (or thereabouts) and not have a big piece of pie missing. They would not have been happy to let their $10 Billion (I think it was) takeover for SA's largest Platinum Producer fall over when the market dried up for access to large chunks of capital to fund it. They wont let this smaller deal slip as well given their stated plans to be a major asset owner in SA's Platimum Industry.
No question its a great resource.
IGC Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
