In view of everthing progressing smoothly according to IGR as IGR moves towards what IGR tells us will be very profitable gold production later this year, the continued pathetic market support is a concern.
Using an analogy, back in 2008 when the CTO share price was performing pathetically early in its journey to a massive decline in price, it was easy to get distracted by the Opes Prime saga, and use that as a reason, as some CTO shares were involved. But as we all found out, that was NOT the REAL reason. It was just a smoke screen.
It's very easy to look at IGR's current share price performance and blame the proposed Rudd tax, but IGR's share price has been performing pathetically for months despite one supposed target after another being achieved - such as project financing being closed off. And now despite the supposed Pala overhang being purchased by solid hands.
I thought about sending an email to CC about the current share price performance but I have already guessed the Rudd tax would be used.
It is as clear as glass that a significant resource upgrade would have resulted in a higher share price and made raising funds so much easier for mine development last year - meaning much less dilution.
I am not going to speculate in public why there has been no resource upgrade.
But I suspect the NUMBER ONE reason by a country mile for IGR's pathetic share price performance is NO RESOURCE UPGRADE for nearly two years.
IGR Price at posting:
24.0¢ Sentiment: Hold Disclosure: Held
