RE:RE:RE:RE:RE:RE:RE:RE:Can someone help me understand?
Hello Bargainhunter6 - From my analysis - even with 772m or so shares outstanding - the net asset value per share is still something close to $4.00. I'm betting Robert Friedland is a dealmaker and will walk away with a good win-win deal for everyone. I also don't think Congo wants to lose a financier like Friedland - with his reputation - he brings a lot of credibility to Congo and the ability to extract value from their natural resources unlike anyone else I know in this business. If/when Congo agrees to the 15% sale and Zijin closes on the deal with the first cash outlay - a good chunk of uncertainty will have been removed and the stock will reprice towards the $1.20-$1.40 near term (where it was after the deal was announced)....at these levels - that's a 50% return. That said - I sympathize with those who got in at $2+....the waiting game must be tough.... my avg. cost on this is $0.69 (but I lost a ton on oil and gave up on the patch - feel copper has much better long term prospects than oil and isn't beholden to one major country (like Saudi Arabia!)..prepared to buy a lot more IVN in the coming weeks.