I don’t know for a fact that they could have bought the Springdale deposit outright in a cash deal, my point was that it would have been a far better option, than the f-ing mess we are now in, and with the shares spread over a larger public holding, the share price would have found its own level, as opposed to the current situation, where the large overhang of the Comet holding, continues to weigh on the share price.
The points you make about the Comet management are very valid and quite possibly that is why the deal ended up the way it did, and the largesse of (IG6) management in the endowment of seed (basically freebies) probably restricted the issuing of more public shares. IMHO the only asset that IG6 have that has any actual value is the Springdale deposit, the rest of it is just smoke and mirrors.
As I said in my previous post, I would like to see a f-ing bulldozer put through management, as I don’t believe that current management has the skills to deliver this project, they just seem to stumble from one mess to another, and are more focused on self interest, and I think that the market thinks the same as it is reflected in the share price unfortunately.
Imagine being a Comet convertible note holder, until a few days ago you probably thought you had a worthless piece of paper, all of a sudden a light appears at the end of the tunnel, what are you going to do??.
I hope that I am wrong in all my assumptions, but at the moment this thing is stale and needs a fresh injection from someone or somewhere.
GLTAH
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