SP its always nice to believe the spoon fed rhetoric from management but the question still remains - why a cap raising if everything is so rosy? Plenty of miners in the past have said 'all is good' whilst running around in the background trying to address serious issues (and they'll certainly not be saying anything otherwise when trying to raise capital). I certainly hope what they say is true, and if so this situation arguably presents a great buying opportunity, but if it is true:
* why has the share price tanked so heavily and why was the CR price set so low * as someone has said - why such a big impact on production from supposedly only a 4 day outage * why a cap raising at all? And why at such a low price?
The damage to market cap and share price from the cap raising seems disproportional to the amount being raised and the current status of the company, and secondly if things are so rosy seems to have been an unnecessary exercise in destroying shareholder value.
Given the growth that is about to come from the new discoveries, plant expansion as well as the large amount of cash about to be generated, the current share price collapse could present a fantastic buying opportunity, but I still question why such a robust company with a rosy future has had its share price come down so hard, and, if the future cashflow outlook is so rosy, why they couldn't wait a few months and use internally generated revenue to grow shareholder value rather than destroy it.
IGR Price at posting:
28.5¢ Sentiment: None Disclosure: Held
