From a volume outlier observation, the last week of Jan 2018 is significant. That was just above the 6C swing low. I can't remember when the CR came out but somewhere around that time I suspect. If so then it could be Tooranga buying up big.
Anyone trying to spot the reversal and then just assume funding $ and big ones too will just rain down from the sky should at least ask what the funding model is. I attempted to trigger a discussion on this matter last year but no takers. I don't care what they are doing on the ground as long as they announce what their plans for the funding is.
The market cap is micro, trying to fund a project at least 15 times its value does not involves free lunch. I can only think of giving a big chunk of the project away to realise that dream because any funder assuming banks/BH lending that kind of money needs some collateral pledges. The only 'asset' IBG has in Citronen so a collateral will be at the terms of the funders and I can assume that IBG will end up with a only small position in the project ownership. If any Chinese dying to get their hands on this project, it would be easier to just do a takeover even if they double the price offer of the current value. Oops, Glencore/Nystar in the way. So why would the Chinese take on the risk of funding and all that risks in order to give Glencore a free ride to the off take? It is of course Glencore's preferred solution to their supply agreement, free ride....
IBG Price at posting:
5.0¢ Sentiment: None Disclosure: Not Held
