Johnny Can't Pay A Dividend Johnny,
I was never short IVN. And it's not because there are a lack of opportunities to short. It's just I don't have time to watch it all day. IVN has always been a company that comes out with a blockbuster news release, without any technical indicator to tip you off that something is up. If you're short, you may only have 30 seconds, if that, to exit your position. If you don't, you can and will get seriously clobbered. I've seen that happen with IVN before in Mongolia. I'm not prepared to take that kind of risk.
I always thought IVN was fair value, and often said so. What tipped the scales for me was the updated PEA for Kamoa-Kakula on November 28. Undiscounted cash flow increased by 86%. This means available ore and metal recoveries had increased proportionately. I couldn't understand the sell off which followed. How is an increase of 86% bad news? And this is before considering an extra 5.5 km of strike soon to be added to the resource. I thought the news was excellent and tipped it for me into a buy from neutral.
The other factor was the recent 30 page report by Talmage Adams on Seeking Alpha. He demonstrated convincingly, step by step, in painstaking detail, why IVN was probably going to be worth $20, even if the resource were not to expand, which of course it will, and soon.
The reason you can't see it, Johnny, is that you're a hustler with no deep knowledge of exploration or mining. I don't mean that as an insult. Everyone plays the cards we are dealt. And your best hand is a hustler. I never did buy all that hot shot lawyer BS. If I was facing the Electric Chair, I sure wouldn't want you defending me. You'd insult the judge, jury and executioner, guaranteeing a quick journey to the hereafter. So, in an ironic twist of fate, you Johnny, the biggest pumper, ended up selling, and me, the biggest skeptic, became convinced this was the real deal.