As a potential investor, I have been doing some research on Inca, including watching the company update presentation on Wednesday which 14 people attended once it was restarted. It was annoying to have the presentation held-up and restarted after an adviser requested, as only 6-7 people were logged in after around 5 minutes.
What I heard from the company is they will prioritise their incoming funds into drilling around Camel Creek, while exploration for phosphate would be last given the world market prices.
From recent announcements and other sources (HC), I believe funding will be a continual challenging issue/problem despite the positive recent contributions from the Chairman (loan into shares/rights) and other directors (rights). The previous track record is not good.
I am also concerned about the quality of the announcements and delivery delays around the rights issue to shareholders. Not a good look IMHO, especially for an exploration company short on cash. I am not seeing a clear strategy to success with lots of risks. Perhaps that is simply the nature with junior explorations, with lots of potential mineral tenement opportunities (perhaps too many given their funds and capacity).
I would be keen to hear other's honest comments, specifically on Wednesday's presentation.
ICG Price at posting:
0.7¢ Sentiment: None Disclosure: Not Held
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(20min delay)