"Rio Chief Executive Tom Albanese has called the Mongolian project one of the "most attractive undeveloped copper-gold projects in the world." It's still about what's in the ground!!! We WILL come back.
When RF announces he's splitting off non-OT assets then we will see fireworks. S.Gobi and IVN Australia alone are worth $6-7 per share. RF has assured that the OT project will go ahead without any snags. He has in fact increased shareholder value with yesterday's move. Shareholder's portion of OT, when it does go on the block, will be very attractive to potential suitors. The value of OT must be $40 - $50. Shareholders will have a windfall. I am surprised we havent already recovered losses sustained yesterday. Yesterdays announcement WAS good news.
"I am surprised we havent already recovered losses sustained yesterday. "
Why aren't you surprised that not only has INV not recovered, but continues to slip-sliding away? Why none of you questioned why IVN shot up from $14 to $24 on speculative rumors but now are questioning why hot air is deflating? The company's assets in the ground are not worth $14/share as per NAV, let alone at the current price. The "speculation" that IVN will sell itself is bull, started by whoever wants to attract a fresh batch of bagholders to sell their shares to. No one will be bidding for IVN when Rio can control 49% within days, and can buy up another 2% much easier than the other party can get to majority. No bidding, no way. RF has just played his trump card and bluffed badly, and Albanese is calling him on it. The funds that colluded with RF to pump up the stock are in a hurry to lock in their profits and dump 'em on new idiots. To do that they need to plant an plausible but improbable bs play. Watch and learn - in RF's world, things are standing on their ears - when the price shoots up, he's about to sell or dilute, with "great" news being trumpteted to the media. Now the pendulum will start swinging in the opposite direction.
Eventually the market will figure it out, once all the bagholders are exhausted.