$4.9m cash on hand at 30 Sept 2007....this doesn't include the...

$4.9m cash on hand at 30 Sept 2007....

this doesn't include the $1.2m the company just spent on a 25/4 man accomodation block, so really only $3.7m cash in hand

It is inevitable that these guys are going to need to raise capital at some point in time to progress exploration / mine development, and with the recent share price surge, what better time to do so?

I suspect the company is raising a decent wad of cash (c. $10m to $20m, via issue of shares to institutions and sophisticated investors at 45cents.).

If that is not the case, then the halt is because of a huge strike of gold from recent assays, but I suspect the capital raising is most likely...

this is just my speculation, so please do not buy or sell based on this...

IGR - still going to $1 tho.

cheers - PT