The quarterly details no plans for a CR, yet Inca making plans for drilling ET this season and fine tuning targets in ET and Mac Creek.
As some shareholders have posted - how are they going to pay for it?
Since Inca seem to be very relaxed about spending $$, then I come back to the JV prospects for Mt Lamb - which first mooted back in July. Just waiting for the last of the assays to finalize a deal.
The $$ part of the deal could include reimbursing Inca for $ spent on Mt Lamb - which solves our $$ issue.
A finesse could also include JV underwriting a CR whereby shareholders and OC holders issued entitlement to buy shares for a discounted price, compared to the underwritten price. Some shares could be held aside for non holders to also participate - @ the underwritten price of course. This concept may resolve the OC issue for those who bought onmarket, but unlikely to be converted.
ICG Price at posting:
2.1¢ Sentiment: None Disclosure: Held
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