M.J is no idiot imo so I guess we just have to trust him to...

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Sander51

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07/02/23

14:34

Post #: 66119947
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Originally posted by MAB73 ↑

Yep, but it is also probably in the "dead in the water" category due to apparently not having any serious equity raising prospects to progress the project in the forseeable future (Mike has said this multiple times) and a need to equity raise again in a few months for "life support" to continue.

At the current share price the continued sizeable dilution required to raise anything at all makes one wonder if the best solution for the current shareholders is to just sell the project and wind things up. My question is what could the project be sold for as is?

It looks to me someone is going to get this project for not much in the next 12-24 months when IBG goes under, unless the directors can develop some competitive tension in the sale of the project or things are actually more positive behind the scenes than they look to be from what has been released to the market.

No argument from me that it looks like a good long term project (which is why I invested) but without appetite from equity funders it is just another untouched and untouchable piece of land in Greenland.

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M.J is no idiot imo so I guess we just have to trust him to eventually come up with the goods - hopefully, Fiery Creek will give us some reprieve in the short term if they get the drill rigs on site to test the old diggings as Mike indicated in the last report.

Would be good to get some closure on the LNS discussions with a commitment one way or the other!?

Either way, I'm still in for the long haul having come this far, I can't see the point in bailing out now!

GLTAH's
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IBG Price at posting: 1.1¢ Sentiment: Hold Disclosure: Held
4 Upvote

1 Great analysis

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