Thanks, I didn't want to see what should have been a celebration turn into anything less, all because of 50,000 options to the new Director. I admit he had me stumped when I was informed he didn't drive, but the pearler came towards the end when he stood up and asked,
"Mr Chairman is there any bad news to come out of this company in the next six months?". Well if we all had access to a Delorean or had Hey Hey on constant rotation we would know.
After 12 years of broking in the speculative end I got to the point where I was heading towards burnout. Sure during bubbles it was Hollywood with up to 60k a month coming from writing tickets (now electronic), but I found that no matter how many ten to fifty baggers were being taken, the stress levels just kept on rising. Luckily for me I found a young DA at the time who I identified as someone to mentor and train and importantly had potential as a "value contrarian investor and broker".
This might sound weird but I think it was the explosion in discounters and generic distrust of brokers that allowed me to always maintain a steady business and to provide a high level of service.
I am now out on my own and in the process of establishing a small speculative fund with some investors I got to know and respect. Obviously with more red tape than Twiggley's dress, I had to keep it to 708's and the entry amount high but it should be enough to kick it off. I also have some other ideas to help support the junior resource sector, but don't want to get moderated for advertising.
Fantastic result for IGR, I always wrote in my old notes that it was on the "AVO upswing", and if they can deliver on the production front, and their dream run with the drill bit continues why can't they eventually have a $1bn market capitalisation?. I made it clear to clients at the time that from 66c the $1bn cap is only a double when some have ten-bagged so obviously you would take some off the table as the run accelerates.
Cheers
Budfox
IGR Price at posting:
58.5¢ Sentiment: Hold Disclosure: Held
