Member Info for Jonfon

The company has lost around £400 million market cap since the announcement. That's over $500 million or half the amount being paid for TastyTrade. My opinion is that this is oversold but if the shareholders really think the aquisition is worth less than half of what we paying we need an urgent no confidence vote in June Felix.

Is he in Kenya to work with the exploration team or to beg Kansai to take shares in lieu of payment because there is no way the comany can come up with the cash due next week?

Without the aquistion announcement I think the shares would have gone up. If shareholders really think the deal is so bad it shaves 10% off the companies value, then they can veto it. I think we really oversold here.

The aquistion brings IG right into the US market. If you read the document it says that the US derivitives market is the biggest in the world. It starts off with:
"With an estimated 1.5 million retail traders, the US options and futures market is larger than the rest-of-world CFD/FX and European Turbo markets combined".
Combining IG's technical assets and experience gained in the mature European market with Tasty's foothold in the growing USA market, you have a winning formula.

I think the drop is because people were waiting for this mornings release in case there were any new announcements they'd regret missing out on. Anyone who bought between 1 and 10 months ago is still in good profit, so they are selling and putting their money elsewhere. In other words the speculators are pulling out.

Still a solid company with solid dividends worth holding onto if you a long term investor.

Maybe paying off loans? They took on a fair amount of debt earlier in the year.

Whatever it was, the profit on that deal will give a nice little bump to year end results.

The Copper Bay project was put on hold and up for sale a couple of years ago. Would the current copper price make that worth reviewing?