IRIS General Discussion, page-348

@sincheon
It's simple. As you can see on the share and option structure of directors' holdings they have huge amount of shares. Especially Tal Paneth holds 30m and it will come out of escrow on Sep. 2023 which means very soon. Also other directors hold a lot. If we consider the total shares on isse (SOI) is only 125m then the percentage of director share holding is around 30% plus the options.

We all know that in many cases in stock market directors may sell down their shares on top of shareholder. When I see that kind of thing and if it's not justifiable, then I immediately leave that space.

And in some cases the directors do wrong, they sell their shares but the stock goes up. Or they kill a good project without proving up and creating a good value, they may sell their shares and get out just to make some good profit. I'm not saying IR1 directors would do that but I'm wishing this type of thing should not happen. I also can see Simon Lili as the chairman of De Grey Mining is a very successful director. He wouldn't allow these kind of things to happen I think.

Also I never consider that the directors always know everything about the project or the sector of that project. We have seen many examples of that in lithium space. Many director sold out in many good lithium projects and lost a lot of value. LTR has been a very good example of that. Everyone stuck together and created a huge value for all. I hope same thing happen in IR1.



I can't tell you all my purchase prices but I can tell you my last purchases was at $1.50 and $1.52. I must say that I'm not a trader. I'm an investor. I bought some IR1 to make a start. When I bought a stock I make more and deeper research, if I don't hold it I don't do a deep research. That's why I buy some then buy more and more if I see a good light in it.

Now I'm making a lot more geological research at that Black Hills area, finding and reading old documents from all sources I can find. I'm now trying to understand the geological settings of that area. That will give me an idea about the "Geological Chance of Success".

I am trying to find out;
- if there is a granite under the Black Hills (already found out; yes there is)
- if the pegmatites of projects are around the granite-greenstone contacts (I think they are)
- if the pegmatites are really LCT pegmatites but not NFY (REE and rare earth type). (I found out from old docs yes they are LCT type)
- If the pegmatites are zoned and complex type (I now found out some of them are zoned but don't know if they are complex type)
- what was the reason that those very large spodumene crystals evolved in that region (the largest spodumene cyristals on earth found at Black Hills)? (I don't know that yet)
- and many other questions will come out over the time.

That gives me more confidence about that stock, or it may give me less confidence about that stock and I may leave. I never can be sure of anything without seeing the drill and assay results, the extent of strike length and depth/width of pegmatites.

Of course no one can be sure of good results. This is a exploration game and there is always good or bad surprised. So everyone has to think and invest carefully when investing in exploration stocks.

If the project and management is good then very good things will happen. If not then no good.

I will wait for the drill and assay results for couple of rounds and make my own decision. GLTA