Amok - Thanks for your welcome and your comments. Agreed regarding the nuggetty issues - it always seems to be the reason why Vic u/g operations tend to end in tears! Would prefer they got involved in exploration upside (blue sky) in Vic (close to plant) rather than in WA (but I generally understand the de-risking element it brings (however it only de-risks if it comes in time - WA is currently a long way off at the moment!). Yes - no debt since $1.1m was retired back to IG via the placement on the 31/03/14! A real issue is the lack of capital available for the u/g development. I suspect Denman might be a mate of IG's - and that IG can't buy any additional shares on market (because he is a director (continuous disclosure issues) and because he is close to 20% (I believe he currently holds 31m of 169m shares on issue). Management need to come up with a plan - that is somewhat different to what they are currently doing - just my thoughts!
Actually - maybe a good question for Management would be to ask them how/why Denman has appeared - and what it is that he sees in the company currently! Maybe they could give you his contact #'s so you can call him direct!?!
ORS Price at posting:
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