Indiore advised that it has insufficient ore to process through its Phase 3 process plant. The company has cancelled the Phase 3 project, and initiated an independent review of the Phase 3 project’s approval and go-ahead process. This is a very disappointing development. The company is in a trading halt until 28-Feb-19, with a further announcement expected then.
We will monitor the outcome of the independent review, and review the company’s proposed way forward, before making any decisions regarding this investment.
Indiore was a smaller weight in your equity portfolio. (Such investments are often progressed in a measured way – with an initial portfolio weight usually not exceeding 3% - then exposure increased as the company develops and grows.) Even as a smaller weight, this is still a disappointing and unexpected outcome
IOR Price at posting:
6.9¢ Sentiment: Hold Disclosure: Held
