On first pass I gave IGAS the benefit of the doubt but am wondering if I was too generous.
There are a number of negatives raised in articles and on forums that are temporary, can be overcome or can be explained away but there are also a number of things that could kill or weaken IGAS to the point of fire sale or cheap takeover target. In this event is worth less than 1/4 of its current value based on NTA.
Financial stress is one such issue. The steady down trend, lack of a base, lack of director buying, effective margin lending by CEO of IGAS shares to buy more IGAS shares don't look good.
While the csg story is proven in the US and QLD and elsewhere; and someone will make money from it in the UK, but it may not be IGAS. So the big question is how stressed is IGAS and will it survive the long haul ahead or will be picked up on the cheap as has happened to so many csg companies before.
DTE Price at posting:
12.0¢ Sentiment: None Disclosure: Held
