IRC (ASX) Placement/s -Nov. AGM

Originally posted by HotRods65 ↑

Originally posted by JamesExpat2
The Company has 235,388,464 Shares on issue as at the date of this Notice. If all of the
Resolutions in this Notice are passed, the Company will be permitted to issue (as at the date of
this Notice):
Intermin Resources Limited
Notice of Annual General Meeting and Explanatory Statement Page 8
• 35,308,270 Equity Securities under Listing Rule 7.1; and
• 23,538,846 Equity Securities under Listing Rule 7.1A.
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Just spent a few minutes pondering the possible uses for any monies (~ $9m)raised
assuming resolution passed at the forthcoming AGM.NB have assumed raising @ 15.5cents
for purposes of this exercise.
- Taking on the full Menzies project(assuming EGS pull out) ?
-A new acquisition ?
-Reserve monies for a possible "full steam ahead" on the Richmond vanadium JV (IRC 20% share)
within next 12 months.
-Buy back remaining unsold EGS shares ?

Interesting times ahead it seems.
This doesn't mean they are about to raise, it's just what most juniors do to have the capacity available if needed. They would have most likely had the same resolution last year.

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Normally I would agree however as we know JP's plan was to be self funded
for drilling/development of a mine so there would be no need for a CR in their immed.
agenda.
So what has changed for IRC to include mention of a CR/placement in the AGM. ?
Actually a great lot has changed-for starters the situation with EGS affecting
both their Menzies JV and the heavy sell off of EGS' IRC shares.
News of the Richmond vanadium JV will surely also be imminent
IMO the next few months will be one of very great activity for IRC
partic. with f'casts that the gold price is in for a period of big recovery.
As I see it the big boys in gold will be out to gobble up the most promising
of the juniors-IRC would one of these juniors in their sights.
My own guess is that Menzies would be too marginal ($$$ wise)for JP
to self fund hence the inclusion of a CR placement.
My guess is that JP already has in mind an interested party/parties for
a placement. An early start on Menzies by IRC alone would add a big chunk of ozs(171,000)
to reach the 1m target and beyond much earlier than if it was only to be a JV.
JV parties always have disagreements so better IMO for IRC to go it alone.
They will have the financial clout and great gold experience to carry it out alone
successfully.

Normally I would agree however as we know JP's plan was to be...