I think a lot of people are selling due to frustration. Would be plenty of people who have held IVZ for 1-3 years pre-CB21 seismic and are in the negative despite the discovery announcement. I first bought in at 12c in early 2021 and if you told me that we'd be at 11c now after everything we've done I wouldn't have believed it.
With the way the share price moved, we're likely headed for another cap raise post flow test maybe back end of 1H2024, unless Scott so sort out long term funding within the next 6 months. My hope is we sign a BOA with a debt facility to fund additional exploration. Scott's said groups are desperate for what IVZ have, so he needs to make them put some money down if they want it.
Scott's already shown that he will keep going to PAC despite them dumping, so either he's too lazy to try find another broker or there's legitimately no better option for the company. Until long term funding is addressed or the timeframes for monetisation are firmly established, we're going to stay at these levels for a long time. It's another reason why I was so against using funds to shoot more seismic, it doesn't help us in the short term and will lead to more and more dilution.
Scott's so focussed on the long term, which is generally a good thing, but his lack of short term motive is costing the company dearly
IVZ Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
