If the Dow were down 250% then it would be at an approximate level of -20,000, or more. Yes minus.
ASIC and ASX require "Continuous Disclosure", and it's not all the time clear what is material and meaningful. A plant shutdown would qualify in my opinion. Especially if it then turned out to be a more serious problem requiring a longer shutdown, then PING, big fine and more scrutiny from the authorities. Having worked for and socialized with several MDs of small explorer/mining companies, it seems to me the general rule of thumb is, when in doubt, announce it. Blame it on the hazy over regulation by the authorities.
But the contradictions, lack of clarity, and change of directions by IGR recently are troubling me. A lot of focus seems to have been lost. And like His Lordship said, perhaps they have overstretched themselves too much and too fast, and underestimated time frames. I want clarity on the accounting methods, how, or even if, they change the financial situation. Accounting can be as nebulous as the regulatory regime. I am not happy at present, even though I'm still in the black, though less and less. I'm also unhappy that I also jumped in yesterday for more at 38. But that's with myself, no one else to blame.
Some positives still there. Majestic is a goer, and Imperial, Lucky Bay and Salt Creek are pretty sure fire future mines. Which may make IGR a juicy target, especially if good results from Area B and C at Aldiss. Lot of cheap gold for someone to pick up at these prices.
IGR Price at posting:
37.5¢ Sentiment: LT Buy Disclosure: Held
