On Second Thought ... Buyout Well, I've had time to sleep on this and finally came to my senses. Although friendship can be a factor in business, it's not unethical or immoral for individuals or companies to act in their own self-interest. They're not running a monastery here. As much as Chinese state miners may be fond of their current partners, they, as everyone else, will continue to evaluate their own self-interests.
I know that if I was in their shoes, and if the market price was right, I'd buy majority control. Then you can do whatever you want (including delisting the company from TSX and re-listing in China). On reconsideration, IVN shareholders probably don't have five or ten years. Anything is possible; no one can read events perfectly, but to be on the safe side as a prudent investor, I'd assume that if global economic turmoil continues, and the price is right, Chinese state miners will make a move to acquire the Company, or majority control, sooner rather than later.
So, where does that leave target price? It's hard to tell from stock market action. The US has partially nationalized their economy through aggressive Fed intervention. This is what is driving the current surge in stock prices. The real global economy -- and IVN is definitely part of the real economy -- is staggering. It's hard to tell what the world will look like in one or two years. I wouldn't even hazard a guess. So, once again, at least for now, I'm back to no price target.