IF the money comes through, and I say this with my earlier doubts assuaged by the researches posted on HC rather than Ann.s by IGE, the CR seems a good deal. Its a combination of equity and debt - less dilution than an entitlement offer and less interest and better repayment schedule than, for eg., Macquarie Bank might offer.
The framework offers a vote of confidence in the tech and installation prospects.
The bullish reaction of the unfunded 31/12 Ann. subsided into a bear contraction as the following Ann.s, first the erroneous ADIA, then the confusion of the Tangier Ann.s, led IGE to appear fraudulent... hence the ASX suspension. This has made some deem any Ann. from IGE dubious.
Yet once all the doubts are cleared, the confidence should return as the source and funds will be verified. The negative posters should be ready to buy once the issues clear... as I will be.
IGE remains a sound investment IMO with good planning and projects only in need of appropriate funding. This deal achieves that - five stars.
IGE Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
