the jrv transactions

Prior to today’s announcement, INL had made a net profit of $164,642 on transactions in INL shares (see my post of a couple of days back).

It has since sold 124,325,310 shares @ 2.73c, on a cost base of 1.25c. This is a further net profit of $1,840,015.

Total profit to date : $2,004,657.

Still held :

(a) 67,095,473 shares.

Cost @ 1.25c : $838,693; market value @ 2.6c : $1,744,482

Paper profit = $905,789

(b) 107,200,000 options.

Conversion cost 1c; market value if converted $2,787,200.

Paper profit = $1,067,200

Total unrealised profit to date : $1,972,989.

Thus overall the JRV investment looks like a net gain of just under $4 million for INL. A good trade!