Should there be a takeover bid, my guess is that it will be after the Mar qtr results being published (early April) and before the UG is in full swing (Oct.+). Any hitches in between those dates will likely see the SP drop and an opportune time for a takeover bid.
Likely cash burn for the Mar Qtr is a worry and IGR should have budgeted expenditure better to avoid the possibiity of a CR over the next six months. Increased spending and lower grades is a recipe for a CR.
If IGR gets through the next six months without a CR or a takeover bid and if the UG operation produces the goods, then IGR should be right. But the "ifs" are the worry.
Cheers Moorookamick
IGR Price at posting:
58.5¢ Sentiment: None Disclosure: Not Held