Its actually the last 2 years which has probably left a scar on the market where they kept magically coming up with new raises with no indication of how much everything was going to cost with the market pretty much blind in this area. Now its totally woken up so he's trying to sell it now as everything will cost 40% cheaper. I actually don't know anything 40% cheaper considering the inflation rate in the past 2 or 3 years.
Who could forget the new 10 million raise the day after the share purchase plan closed
Or the 15 million raise before spud for contingency costs and of course the Santa raise.
So now the market is pretty apprehensive about pushing this over 10c raise without another magic 10c raise coming as they don't have enough cash to complete flow test and well deepening and can only see this being funded alternatively with a farm in partner
IVZ Price at posting:
7.7¢ Sentiment: Hold Disclosure: Held
