RE:RE:RE:RE:Can someone help me understand?
What blows my mind is no debt....in the oil patch - you have companies with billions of debt on the balance sheet which - deservedly so - have crazy discounts to NAV....I don't believe I have ever seen a company with no debt, trading at such a discount to NAV, with - as some have noted - after the sale to Congo and Zijin - will have more cash on the balance sheet than it's market cap - setting aside the billions in assets they own....this would be a classic buffet style play (setting aside the geopolitical risk and current price environment for copper). I can't imagine this being anything less than a 1000% return over the next 10 to 15 years..... I was reading up on copper supply...how new electric cars, hybrids, and even the tesla factor will consume huge amounts of copper in the next 5-10 years - and with high grade supply constrained - this stock has all the makings of a huge ROI. To put IVN in perspective - had you purchased 100,000 shares Apple stock in 1997 - you would have purchased it at around the same price $0.70 a share or $70,000...20 years later its the largest company in the world...the value of those shares are worth $80M. I'm not saying IVN has the same potential - what I am saying is if your time horizon is 10-20 years - I can't possibly see this as a bad investment at these levels...with all the time to wait given a strong balance sheet.... and what I'm getting in return. Thanks for the comments though - I'm probably going to reweight my portfolio towards IVN if this keeps going lower.