Hugh is now unable to get his hands on the much needed $9 m that the ibr shareholders own and cannot legally make any changes to ibr without current shareholder approval.
My answer,
You are totally right and since the majority of the shareholders have to agree to any change , TMR has the vote already in the pocket.
And that is how simple it all is.
Good luck and do not worry you will still have a chance to become part of the TMR family imho, who else would by your shares now????
Delisting of the IBR shares will be next on the agenda , be prepared for this.
In the meantime with copper prices still strong and inventories down every day I can see a bright future ahead for TMR.
Add in the IBR gold assets and it looks like a real gem.
Now we only have to wait for IBR to do an extra capital raising for the new mill and to get the mine in full production. Ofcourse this can be done with or without shareholder approval depending on how many shares are issued. Thos newly issued share will be going to a sofisticated investor (being TMR) who hereby become a majority holder (above the 90%) and can fully takeover the company.
Great to have the IBR directors on the TMR side , so they will al vote in favour.
The writing is on the wall , TMR is a WINNER.
And if you want to get the last bargain price , you better jump in soon because the share price will very soon up and away.
Good luck to all
jojo
TMR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
