Placement/s -Nov. AGM, page-5

Normally I would agree however as we know JP's plan was to be self funded
for drilling/development of a mine so there would be no need for a CR in their immed.
agenda.
So what has changed for IRC to include mention of a CR/placement in the AGM. ?
Actually a great lot has changed-for starters the situation with EGS affecting
both their Menzies JV and the heavy sell off of EGS' IRC shares.
News of the Richmond vanadium JV will surely also be imminent
IMO the next few months will be one of very great activity for IRC
partic. with f'casts that the gold price is in for a period of big recovery.
As I see it the big boys in gold will be out to gobble up the most promising
of the juniors-IRC would one of these juniors in their sights.
My own guess is that Menzies would be too marginal ($$$ wise)for JP
to self fund hence the inclusion of a CR placement.
My guess is that JP already has in mind an interested party/parties for
a placement. An early start on Menzies by IRC alone would add a big chunk of ozs(171,000)
to reach the 1m target and beyond much earlier than if it was only to be a JV.
JV parties always have disagreements so better IMO for IRC to go it alone.
They will have the financial clout and great gold experience to carry it out alone
successfully.