impact of today's placement announcement, page-18

This was a quick, clean capital riaisng of $40 million.

The fact that this issue of 83 million shares at 48 cents, raising $40 million was heavily oversubscribed is a vote of confidence in IGR, its gold production and its business model.

Investors are also not purchasing to sell at a 2.5 cents profit imo!

IGR will now have just a small debt of $25 million which could well appear miniscule by the time repayment is due as IGR progresses its business - particularly if the gold price gets a good kick along.

Anyone who doesn't like being diluted has the option to top up on market at the current price of 50.5 cents and for every 100,000 shares add about 10,000 shares to avoid that dilution.

Yes, it's marginally more than the placement price, but in the overall scheme of things it should prove irrelevant imo.