Why would CC think of trying to raise capital in a stupid market at the stock's yearly low? I hope you agree, they would not even contemplate it. With $15m in the bank and production 18 months away, full BFS not due until the end of the year, its not going to happen any time soon.
The money for the mine development will be a mix of debt and equity, but you can bank on IGR management maximising the share price with exploration success and solid BFS numbers to minimize the dilution caused by the next capital raising.
Clearly someone with a lot of shares wanted out because their Chief Investment Officer wanted all juniors out of their Managed Fund portfolio. Not much you can do. The best outcome was that one the supporting brokers organised the buy side of the crossing.
Nothing fishy going on here, company is solid and exploration success will come again. Not willing to bet against IGR exploration team.
Instead of focusing on the negatives, have a look at why we invested in this stock in the first place. Ask Euroz Securities if the still think IGR is worth 70 cents plus. The answer is the same as it was 2-3 months ago. The only thing that has changed is the market's sentiment towards junior goldies in the light of the failed producers at the junior end.
Gold is starting to run again and the financial markets are getting wobbly knees again. Gold will again have it's day and quality juniors like IGR will either go with it or get taken out.
I think that AVO has got to be eyeing off IGR at the moment. DOM could be doing the same. Whatever happens, IGR's share price will not stay at this level for ever. Like my broker says, this has bottomed and you should be getting as many as you can while you can.
Regards
Kojasper
IGR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
