Why would IRC want to tie up capital when they have other projects to advance?
MR has purchased approximately 1M shares on market since the PFS, that maintains his relative stake should IRC not take up its allocation.
If IRC doesn't take up its allocation perhaps MR will make them an offer for all of their stock?
It will be interesting to see if those that voted against management at the AGM take up their allocation.
Ann: Prospectus for Non-Renounceable Pro-Rata Rights Issue, page-9
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