I have been struggling to find a reason for keeping my shares let alone buying more in the upcoming rights issue. As i see it the only way for ida to have any value going forward is by selling ntaka hill, but who is going to buy something only to have any future profit to be immediately cut by 18% after tax. The only possibles I can come up with are existing Tanzanian miners (Barrick or the like) who will soon already be 16% govt owned and as such may not have to give a further 16% to the govt. or perhaps gpx when it is successfully mining the same patch of turf and may be using existing infrastructure. Anyway ideas please as to why would you buy ida.
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