I did buy 135k yesterday - up to 2.9 before the 2.7c dump. Thus can be removed from any fishy trade - trying to up the VWAP ahead of a CR. As regards a CR, IMO the BOD would be crucified to have a straight out CR prior to the OC's running their course. This is because shareholders like myself bought OC's in an expectation they would be converted.
However if ICG were to have a JV and/or sell a permit - then potentially could have a lot of extra $$ in the kitty - negating and need for a CR. I doubt if likes of BHP would hand over $10m for the Phosphate rights though.
The rationale to buy the 135k is to increase holding ahead of the sp tracking higher a lot of news is expected up to April 30th. Even bad news might push sp higher - because its not as bad as whats been priced into the sp.
I also bought some on Dec 30 for 2.4c
cheers
ICG Price at posting:
2.9¢ Sentiment: None Disclosure: Held
