a very interesting observation ..., page-36

"Also, given how keenly IGR management have been selling their story, why have they been so willing to sell themselves at such a bargain price?"


Because all is not what management would have you believe, BigM. The answer is obvious, as I've been posting about

IGR has not performed financially mining the easy high grade open pits. It couldn't grow cash mining Salt Creek where I was looking for $100m cash generation, a platform to fund future growth like gold miners CGX and MML were able to achieve over the same period.

IGR was then about to embark on the very risky, capital intensive underground operations. How confident would the major shareholders be? Another capital raising or two and the company could have been toast from existing shareholder point of view, confidence completely lost.

IGR directors have acted in shareholders interest, imo, they just had to meet Silver Lake's asking price. They resisted but eventually caved in knowing the gig was up.