RE: RE: RE: Ivernia Announces Resignation of Board Ingalls & Synder is the largest minority shareholder, with about 85 million shares (about 11% of current outstanding).
Strange that they would be selling. It's not like a few hundred thousand here and there makes much of a difference.
Their average cost must be around 25 to 30 cents as they bought in early and doubled-down when capital was raised via share issue a few years back (prior to restart in 2010).
Maybe some loss selling?
Maybe they are not confident of a sucessful restart and getting out while they can?
More likely, maybe it is one of their private investors who bought on a recommendation from I&S, and for personal reasons, needs to liquidate their funds.
Not a good time to be selling IVW. Wait until April next year and price will be double. Everyone else seems to know this.
- Serge.