Is resources influencer Tolga Kumova about to launch an iron ore float?
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So news he is planning an iron ore float at a halcyon time for prices is sure to prick the ears of small cap investors.
Tolga let the cat out of the bag on the BIP Show podcast this week, saying work on the float will be going on in the background over the next couple of months.
“I’ve got another one that’s interesting but doesn’t really go along a thematic,” he told pod hosts Paul Colgan and James Whelan.
“We’ve basically got some iron ore assets that we’ve been sitting on for quite a number of years now, which we’re probably going to bring to market to IPO, over the next couple of months, which are really interesting.
“And the iron ore price where it is today — there’s all sorts of fundamental and structural shifts that have occurred to take the price where it is. There’s probably a number of things that will bring it back down at some point.”
When asked about specifics like production or other estimates, Tolga dialled back the sales pitch.
“This is a brand new play. I can’t talk about it until this prospectus is completed, but it’s going to be interesting, and it’ll be — yeah, I suspect there’ll be a lot of demand for this one.”
You can check out the conversation from around the 30-minute mark below.
The Chief Investment Officer at Kitara Investments and the former MD of graphite miner Syrah Resources (ASX:SYR) the former young rich-lister has become known for his ahead of the game stock picks.
Tolga was an early backer of Bellevue Gold (ASX:BGL), and has big stakes in Aston Minerals (ASX:ASO), New Century Resources (ASX:NCZ), Meteoric Resources (ASX: MEI) and a catalogue of other resources stocks.