To all the ibr faithful and legendary holders who still expect fair value for our hard won investment in ibr this aint over yet.I dont see approval for delisting only application which should get rejected after a full investigation into ibr directors is made.We the remaining faithful do not want to be part of any two bit Chilian copper company and come the 1st june with 900m shares on issue and only $0.5M coh(only $1m coh as at 30.3.07)and bugger all cash flow with only 74% of ibr.Hugh has got 6 weeks to wrap up this deal with ibr and buy the mill.Where will the dollars come from if things dont go to plan?I just cant see it happening so i will stick with the major long term ibr holders who deserve better.This is a sellout by the ibr directors and the authorities should be asking questions.In reply to your post NSH ive got the following to say.Geko plant is in Armenia and is the last component required for the onsite plant to produce 60000oz p.a.What are our directors doing and when are they going to report on the current status you ask.I feel they have gone to ground,rolling over and are now letting tmr give them a nice rub on the tummy.Our directors have not told us the status of gold production since the first gold pour in oct 06.Be aware that our $9m can only be spent on the advancement of ibr interest until this deal is done.Tmr cannot use the funds for themselves even if they are a majority holder.Also contrary to the biased and totally incorrect statements made in the Australian newspaper earlier this month the largest single shareholder in ibr has not and will not accept this offer.Be assured that there is at least 20% left that WILL NOT SELL this includes a single shareholder who holds over 10%.
IBR
iberian resources limited
