Patersons and Fosters, SW. 50% each.
I agree with your thoughts, to a point. Both Patersons and Fosters have existing Bci clients on their books, many of whom would be Sof's who will have bought their entitlements (hopefully...) at.13c already.
Wroxby's already doing their bit and i cannot see the other major holders not taking up their entitlements, so i don't believe that there will be a huge amount of entitlement stock left over. It will be interesting to see what that number finally comes out to be.....
I could imagine there will be a percentage of SH's, particularly the old Bci holders, pre IOH aquisition, who will not participate. Also any holders who have no further confidence in IO - there are quite a few of those..... Of course, in both cases, that is their right.
One would assume that Pato's and Fosters will be back in touch with their own Sof's to try and flog them some more shares, particularly if the SP price holds or moves up a tad.
And that is the big question isn't it - what will the share price do?
I would prefer to think on the positive side and look at the company's future prospects -
* $24mil (net) in the bank.
* A definite plan for the future.
* More stable IO market, with the price firming some what and sentiment changing with regard to both demand and pricing.
* Consistent income coming in from IV.
* The future, Bucklands, to be 'Construction ready' by June 2017, with options available to commence.
* Probability of acquisitions, in both IO and other minerals, possibly in the very near term. Maybe even a Xmas gift in this regard.....??!!
The bottom line is, and every current holder has to admit this, the company is in a far better position now to move forward than we were at the beginning of this calendar year.
To move forward and execute the plan, cash is required. Simples!!!!
The final question is, who wants to be part of the recreation of Bci?
From my perspective, my full entitlement of cash is sitting in my account, ready to leave via EFT on Wednesday morning.
GLTAH.
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