Buying Opportunity? I like the shares here.
IVN is one my largest mining positions.
I will probably add a tranche at the close.
A pal of mine, who is a professional merger& acquisition guy, sent me the message below.
Best,
Steve
I think IVN did a heck of a deal, 2.5% interest for a mine developer in DRC has got to be great. The book was covered in a few hours, too.
I don't think that the investors will get a chance to convert this debt because IVN has a call, which they are sure to execute if they get production up and running without major hiccups.
I have not sold since I bought back some time ago.
I think they can unlock more value by spinning off Platreef. With platinum coming back this could be great. It would not surprise me if we saw more of a pull-back because I think the copper rally needs to cool off a bit more.