Looks like the poor suckers 'investing' in Integra via the endless cap raisings have helped pay to fatten the calf that is now being gifted into SLR.
Management could write a book "how to grow a great company whilst ensuring shareholders never attain any value"
Cap raising that destroyed share price and a takeover offer barely past where it was beforehand and everyone's crowing about what a great deal it is.
Well the combined company may be a good thing (I'm a fan of both co's assets and definitely rate Les as an operational manager over CC the explorer) but this is just the end of a long and cruddy ride for IGR shareholders imo.
I'm guessing that the CEB underground story may not have been unfolding as well as hoped.
Wish I'd stayed on SLR the whole run, started on a shoestring with a second hand mill and self funded pretty much the whole way from there on, now with equity to get all of Integra's assets for relatively minimal dilution.
Talk about chalk and cheese the way these two companies have done it.
IGR Price at posting:
40.0¢ Sentiment: None Disclosure: Held
