The only fundamental thing that has changed is the debt markets...

The only fundamental thing that has changed is the debt markets (which has affected anybody who may want to borrow money).

Unfortunately that includes IGR as they will want debt to fund the construction (setup) of the plant. As cost of debt has increased for the time being, that will make IGR a little less attractive.

As cost of debt increases, so does cost of equity ... due to the risk premium associated with equity, so this results in stock prices decreasing. This is what we are seeing at the moment.

I still think fundamentally IGR is extremely cheap and the current situation with global markets won't last for a long time, so in a few months time people will be looking back at now as a good buying opportunity.

Resource upgrade should be good for IGR, but hopefully it doesn't come in these volatile times as the market will probably ignore it. Further drill results should be due soon I would expect, given the amount of drilling IGR is undertaking.

I hold.

Cheers
Marvin