my head is screwed on straight. all the rappers need to look hard in the mirror as everything I have being saying for months is playing out. it wasn't rocket science to see that ICG was being backed into a corner. covid-19 was only a pin. put it this way, they were banking in the following:
1. S32 to provide more funds for year 2. whether this happens or not, drills were not going to get in quick enough with our without covid-19 to produce results for options to get in the money. there's that source of potential funds gone.
2. the amount of shares on issue in comparison to the SP is ridiculous. option? consolidation and CR. well that pretty much will go out the window because who will put up funds now in these troubled times?
3. get bought out. well this is now looking less and less likely as which company is going to do a t/o on rock chips?
4. liquidation. the chances of this is increasing by the day. where this was less likely a few months ago, now looks a little more likely.
when I was saying they need to sell assets ie. riqueza, and out money in the bank, I was getting shut down. let's turn back the clock and assume they had sold off riqueza, had money in the bank and now wait for things to start re-opening in auz to get things moving? would have been in better position rather than the panic of when money will run out. how long before you think borders start to re-open internationally? this isn't going to be an overnight fix!
wake up mate....
ICG Price at posting:
0.1¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)