Currently the overall investment sentiment across the board is...

Currently the overall investment sentiment across the board is very weak. Plenty of uncertainty exists especially for companies making no money. Months ago the argument for IXR poor performance was that the Brazil REE Explorers were the new ticket and Makuutu was a fail. I don’t disagree but even the Brazil co’s with great deposits are also taking a beating. So sentiment in general is very poor and is not isolated to IXR. That’s the first issue.

Second issue is IXR unfortunately have got themselves into a poor cash position (as far as the market can tell) with slow news flow and expensive management. Couple that with the first issue and hence we have the very choppy waters.

I enjoyed the recent interview. I do see the value here. We’ll get answers soon enough as the bank balance depletes. I am conscious the last time Tim paraded the sales pitch about all the talks they’re having with partners to create a “secure, traceable, ex china supply chain” was back when he was talking about Makuutu, before we acquired IonicTech. It’s the same vague messaging. Imagine how screwed we’d be now if we just had Makuutu! So I’m taking his words with a grain of salt until they resemble done deals and money flows. Let’s hope they can get it done. Let’s hope we’re not a day late and a dollar short.