the deal, page-10

Prior to CGE deal, IRH had 69.86 million shares.

Aquisition is costing 300 million shares.

Total shares will be 369,860,000 shares.

CGE would own 81.1% of IRH. REVERSE TAKEOVER!!!!

At, say, 5c per share, CGE is worth $15 million. Prior to ANN, shares were about 1.5c valuing CGE at $4.5 million.

Altera Resources Ltd (AEA) offered 135m of their shares at 7.5c valuing CGE at $10.125m. That announcement pushed AEA share price to 20c. Then they pulled out of deal two months later.

This is a move to save money because now CGE becomes public without incurring IPO costs.

Directors of IRH must surely believe that 19% of CGE is better than 100% of IRH. Pity info on CGE is difficult to find.

What does everyone think now?????????