does not make a lot of sense when we consider the following extract from the March Qtrly
"The quarterly corporate and administration costs were $A334,000 and the direct exploration expenditure was $A1,586,000. The Company held $A6.36 million in cash at the end of the report quarter."
considering that they only did minimal actual drilling in May..
Only two options here either
1. IVR have costed their campaign all the way to JORC at Paris and have decided to lock up the capital now by issuing another 50-70M shares for $10-14M @ $0.20 OR 2. IVR have fielded T/O offers and are undertaking a defensive cap raising
more than likely the former..
IVR Price at posting:
22.2¢ Sentiment: LT Buy Disclosure: Held
