"Agreed about SP, however always best to under promise and over deliver Mainholm. The JORC was over hyped, under delivered and well past the due date."
That is what I've been saying as well, so it's good to see we agree. But, some interesting questions arise.
Who was over hyping? I don't think IVR is to blame 100%.
Under delivered? Yep, but only in the context to the market hype. The funnymentals are that 20m oz at 110g/t plus the lead by product that is open pittable, all with good metallurgy, for an initial JORC resource is nothing to scoff at like the market actually did...... hence why IVR is so under valued.
Why was it well past the due date? Now this is a really good question and I would love to know the truth. Maybe it was all the argy bargy about what drill results would be included or what would be excluded. Maybe? Or maybe something else? I was willing to take the punt that maybe this was the main problem and the 4+c price seemed cheap enough for the punt.
You also said:
"Good to see the SP appreciating again, most likely just the typical pump before CR though."
It is a good thing for shareholders that the share price appreciates before a CR. But, in my eyes it doesn't seem to be a "typical pump" yet. IVR still has enough cash for several more months if spent wisely. We know they are drilling to extend Paris. I would reckon that the "typical pump" would come with those results. Therefore, that would be the optimal time for a CR.... after the JORC resource is proved upwards. That is what I would hope for and certainly do if in control....but... I'm only a shareholder.
Regardless, it is good to see the share price appreciating whatever the reasons. Go you good thing as I believe it was, and still is, under valued! But not as much under valued than a few weeks ago. :)
Cheers
IVR Price at posting:
7.4¢ Sentiment: Buy Disclosure: Held
