While agreeing that IGE management has made a blunder (attributing US$300 million funding to ADIA), imo, there are still reasons to believe that the SP would bounce in the coming week. The reasons for my optimism are given below.
GEP (GEP Fuel & Energy Indiana) and Tangier have CONFIRMED after the ADIA debacle they would make a payment of US$39.6 million to IGE this month (before 25th January as per the 15th Jan ann and to be paid by SGC?).
Carroll County Indiana
Looking forward to a suspension on Monday till the funds are received by IGE. Hopefully, the company would not pretend as if nothing has happened.
PS: I think instead of IGE, one should try to find more about GEP Fuel & Energy Indiana which is building a US$ 300-400 million plastic-to-fuel refinery (based in the IGE technology) in Indiana US. They had funding problems for the last 3 years but may have finally got the required capital through Tangiers
DYOR please as there is too much confusion
IGE Price at posting:
13.0¢ Sentiment: None Disclosure: Held
