As I see it. This project will cost them 1.1 mil to spend for 100% ownership. But to spend 600k exploration the ancillary cost will be just as great. You know equipment, transport people etc etc. Their current money in the bank will leave them thin after this.
I reckon they could have raised several ways, but to give current holder a big discount to pick up shares now as a reward.
I am not in favour of Greenland as process is hard due to climate, isolation, red tape of gov't from such a small population baseand having to find expensive contractors etc etc.
I have been with IBG for a while, it's like going to the dentist.
Ann: Share Placing, page-5
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