Elizabeth,
One thing about this whole mining deal that's bugged me from the start is this - if the mine site is potentially worth so much, why would IBIC be able to pick it up so cheap?
In my mind, if the gov't knew it had a potentially valuable property, why would they hookup with a company like IBIC which has a questionable past and, at the time, questionable financing, balance sheet, etc. Would it not have been easier to do a deal with a major player with easy access to capital and the mining experience needed to bring the site to it's full potential?? Why bother with IBIC unless there were few or no interested parties. After all this isn't exactly a new phosphate find. There has been data on the nature of the site around for many years - plenty of time to attract the attention of a "big fish". Seems to me that there wasn't a lot of other interest in this play. Either IBIC has some special newfound talent in sniffing out these things, of they might just have jumped into a great deal on some "Florida Swamp Land".
But, don't get me wrong, I do want this stock to move higher as bad as anyone else, but this is my biggest nagging concern. None of these positive developments has done anything to move the stock north so far. I suspect others share the same concern. |
