Everyone's disappointed, including me. I would have like them to do it at 20 cents, then we would have had a bottom at the capital raising share price that the share price could have supported.
Now, we have given all those traders that sold us down from 21.5 cents to 14.5 cents, another reason to sell us down further.
I can tell you this is an insto capital raise, get some bigger names on the register. At least we can be assured that the people picking up the shares in this raising are not going to sell us out when the share price goes up 30, 40 or 50% like the 10 cents raising. It took us forever to get through 15 cents, that psychological 50% barrier.
No, we have been told there is an aggresive drilling campaign, in the order of $3-5m spend over 6 months, then we hve BFS from June, that's another 6 months of drilling 10-20m spacings to get resource definition, metallurgical testing etc.
The guys don't do this for free.
But what we will have now is $7m odd in the bank to drill the living life out of Co$k Eyed Bob and the fantastic new potential open pit at Salt Creek. You can feel that Chris already has his 5th year of production, otherwise why would he tell us that we are into BFS from June. ( DEEEEERRRRRRR )
They just wanted and told us, that they were going to top up the bank account so that he doesn't have to come back to us before he gets funding from the bank to get into production.
Gold is heading into the seasonal buying time, Chris is finding more oz's with each drill hole and you get the funny feeling that the other 6 holes at Salt Creek give us continuity of grade.
The only people disappointed, as our learned friend from two posts up tells us, are those who were hoping to trade out on the upcoming drill results.
I don't really want you posting here unless you can add value to the postings, dont care about your personal disappointment with Chris. He is there for all shareholders and he is doing a fine job. If you can tell me something new about the discovery, the geology and or somehting we haven't been told about in the Gawler in Barrick's work, I am all ears.
I think the real surprise will be at Allendale and Borthanna, but that is just a bonus. Aldiss/Randall's is the company maker at the moment and you can see by how much drilling is taking place, Chris thinks so too.
Regards
Kojasper
IGR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
