Someone mentioned Vulcan Energy earlier but I think a more relavent comparison would be Anson Resources - they recently did a cash raise and similar to Ionic it was for a relatively small amount which is a bit puzzling....will they have to do the same again early next year when they run out of cash?
I bought more Anson on the belief the cash-raise was a 'buying time' strategy, as news is imminent on a deal of some sorts that will solve all of their future cash issues.
It's interesting and as a non shareholder of Ionic, it potentially makes this stock a lot more appealing. I will keep you all posted if things develop as they may with Anson. Changed by sentiment on Ionic today from 'none' to 'hold'.
IXR Price at posting:
0.9¢ Sentiment: None Disclosure: Not Held
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