I still have a significant but much smaller holding than i once had in IGR. I believe that the strategy of proving up resources and not going into production has backfired. It was a sound strategy 2 years ago but unfortunately events have vastly affected where IGR can now go.
Cash flow is king and IGR is far from having any. IGR has not been entirely successful in discovering more deposits. It is down to perhaps less than $10m cash.
What next? I dont know all the options but I do know that raising cash for a gold explorer/preproduction is next to impossible right now. How long will this situation prevail?
The sp is reflecting a highly diluted and uncertain future. The timing of the need for capital could not be worse. I think that IGR may end up in some sort of JV.
I'm interested in what is happening with SBM and RBR who are taking a great interest in exploring extensions to Salt Ck. in RBR tenaments.
If SBM can achieve expectations with its Gwalia treatment plant this month it will be in a strong position and just maybe it could present a way forward for IGR. Just a thought.
IGR Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
