I find it interesting how parallel the stories here appear to be... and how little comment there is on how remarkably parallel the stories at Sarrissa and IAMGOLD have become...
They're both pursing the Chinese listing in Hong Kong at the same time... both funding development of a new surface mining effort of a carbonitite in Ontario... etc., etc. And, now, they're both experiencing exactly the same delay in moving the effort forward ? I think in SRSR's case... that "delay" that the other guys are announcing is exactly what was already being expected... ?
So, how much should be read into the parallels between SRSR and the other guys ?
From birdman101 on the other board:
niobec spin put on hold...
aktiencheck.de
Analysts still advise to buy the shares - so do we ... we multiply the recommended gold company IAMGOLD (Canada: IMG) According to press reports another stock exchange listing in the eye. CEO Stephen Letwin thinks of London or Hong Kong as the third trading center after New York and Toronto. Letwin wants with this step, meet European shareholders, whose share has doubled since 2008 to a fifth. The majority of IAMGOLD papers is still in the U.S. (50%) and Canada (30%).
The bad news: Given ongoing market turmoil now the plans are for an IPO and spin-off of the niobium-division on ice. So goes the stock lost a large portion of soaring share prices. Said niobium-business accounts for about one-fourth of the total value of IAMGOLD, which currently adds up to $ 6.8 billion (Canadian dollars).
IAMGOLD Niobec mine is among the top three global producers of niobium, a rare commodity for the hardening of steel. IAMGOLD would triple the output of its mines in the next six years. The necessary funds, amounted to about $ 800 million should initially be collected in the capital market. Now 200 million coming from its own cash flow and $ 400 million from a convertible bond. 200 million will be financed by bank loans. Medium term, a quarter of Niobec goes to the stock market . A 20-percent package will put Canadians at a strategic investor, preferably a Chinese steel producers. Niobec 55% of shares are to remain at IAMGOLD. Unless the plan. Niobec The resource could IAMGOLD eight times this year to nearly 1.93 billion kg, with corresponding implications for mine life and productivity.
A preliminary feasibility study for the exploitation of these mega-resource should still be available in December. In addition, acquisitions are always possible, because the debt-free IAMGOLD currently sits at CAD 1.2 billion cash, the "work" sooner or later need. Who is investing in IAMGOLD: Hold on! Provide mental stops, depending on the risk profile at 18 or 16 CAD. In the longer term there are still classes in there for 30 USD. Only in the last week of IAMGOLD was Macquarie and the Canadian Imperial Bank with an Outperform rating recommended for purchase. |
