: The company has 35% finance carried interest in JV ? Since when has there been a free carried interest ? Never !!
IGS (Ann) 17 April 2015
: 4 (b) - A$675,434 paid cash calls in JV;
: 6 (a) - Loan agreement May 2014 matures 31 March 2015 $200,000 - was it paid ? No information !
: 6 (a) & (b) - matured 31 March 2015 - were these paid ? - No information ! Note: 18% interest !!
So (?) effectively is IGS hasnt disclosed its % share of funding in the JV if it has been paid or still owing ?? So is IGS in debt some +A$500,000 outstanding in the JV ????
1st Q Report Ending 31 March 2015
: No exploration activities planned - at this time ! So what does that say : Not worth spending exploration dollars ??
: Metallurgical testwork initiated for next 3 months - What test work ? and what is to be achieved ? What happend to the pre-feasibility and scoping studies 2012 / 2013 with early production 2014 from Oxide (heap leach) ??? I think this is pushing it !!
: Q1 2015 - Admin costs = $4,000
: Q2 2015 - Admin costs = $85,000
Good to see Directors get paid first on funds from loan, con note or other first !! and no funds spent in exploration which ultimately is rewarded in discovery and share price increase !!
Gone from bad to worse to now a Bad Joke !!
IGS Price at posting:
0.2¢ Sentiment: None Disclosure: Held
