Dont know about who is misunderstanding who. But im quite sure i...

Dont know about who is misunderstanding who. But im quite sure i wrote '31mill' and not '12mill'. Im trying to figure out where you are getting your 'token' 12 mill placement from?

They raised 31.5mill by issuing 70mill shares at 45c (9/11/07). That amount at the time was a substantial raising for IGR as it had not had a raising anything like that up to that point - and oh yeah do i remember the complaining/whinging regarding that one!! Previous to that there was a 'token' raising 5 months earlier for 5mill at a much much larger discount (14cents). Now the GFC was getting underway by then (nov 07), so i think that they did a pretty good job in raising that sum when we put hindsight harry to the side. Oct 07 to April 08 was the only time that IGR traded above 50 cents. Your 55 cents lasted 90 odd days from top to bottom, thats hardly a substantial amount of time to organise a raising and convince institutions to hand over capital and lets not forget the period that this occured in - during this time it was every man for himself! Nov 07 to Jul 08 was the only time in IGR history that it traded above 35 cents for a substantial amount of time - thats 8 months max - during which period the large raising of 31mill WAS conducted - dont know about you, but thats a darn fine result considering the information that was available then to management and the unknown result that the GFC would/could/did. There really have not been many open windows for large raisings at high prices - and thats unfortunate. But the window that did open was taken with skill IMO. However had we a time machine........

I also wish such a dilution hadnt occurred, but taking off the rose tinted versaces aint so easy when your in charge of a company that is trying its best to minimise risk while gold companys left right and center are struggling (as they were in late 07/08). So from that angle i can understand the position that management took, it wasnt to hotcopper forum standards, but it was in the right direction.

Anyway, im quite sure that i am also discussing and in agreeance of the large dilution that IGR has had to go through the last 5 years. What was your point again?