What I sent to JP ....but he wants to let the results to drive the SP to higher levels which is cool but I certainly would vote for a bonus opt issue
Now 2018 so far has been an eventful year with the SP heading over 30c inter-day but currently, we are back at January mid-teen levels, I like yourself and other holders know we should be trading at much higher levels on asset/cash backing but the market is just not interested and I don't see good drill results changing that in the short term, well more than a blip in value to re-settle mid-teens once again.
Long-term S/H will be forced to watch others gain headlines and attention while we have no trades some days, the confidence is still there but waning coming to the end of the year as we all watched the SP head downwards.
Now recently the 17c options mostly lapsed also not leaving a good taste for many IRCOA buyers (how many also held IRC)
What I personally think would be a great idea to put a smile on many interminions dials pre Xmas (and I'm happy for you to shoot me down on this) Is Giving out for every 10 shares held is 1 Bonus option IRCO with say a 25c strike 2020 MAR 30th ex. date within a couple of weeks etc..
Why I think this would be worthy to take to the IRC board.
#1-Is IRC, not a successive exploration/developer if so then after proving that over the last couple of years of hard work lets reward all of the S/Hs loyal enough to stay here (one could see these opts sort of like a free divie from IRC as they will be listed and should command around 2c on market those that want to get some cash can sell)
#2--23.5mill options 25c should be well in the money come early 2020 so should raise around $5.5mill to $5.8mill AUD at ex-date. (I'm sure you wouldn't mind the extra funds)
#3-Market attention- Of course results equals attention but giving out free options
would really wake the sideline watchers up > A micro-cap explorer that has such great fund management and tight register that they can afford to give out bonus option.
#4-predator protection- I know our major holders MR / BB won't be selling out sub 50c but these extra 23.5mill options would just add another small layer of protection
we S/H's can exercise.
#5-The JORC 1moz end of 2018 target that because of Assay Lab backloads & delays isn't likely to be attained Bonus opts would ease that not being met.
#6- tight script - IRC only has 235mill shares listed, I don't see 23.5mill IRCO as making that very dilutional or showing reckless management if anything it would bring some extra interest to the company from guys that like the risk-reward.
#7-Respect- So many ASX companies look after sophisticated, professional investors, institutional investors etc over long-term loyal S/H's Bonus Options
is a big thank you for all involved.
#8-Wives Partners mates etc> So many people that have invested in IRC are just
average hard working people that have others depended on them, partners/ wives that want to know what the hell is going on with all those funds you sunk into that Gold company out in WA.. "well dear we are about to get a free bonus option worth extra $$$ from IRC so lets just continue to hold these guys have are best interests to see them exercised.
Is just an idea be good to know what you think and if its an idea worth bringing up at with the board
