Chunts! That's rude. ICG has way too many shares on issue. That's directly relevant to its exploration history and historic mode of Capital Raising to fund same.
Let's face it while I'm a little bullish on most recent play, there in fact was no way this company could have realistically raised the capital they just have by way of another share issue based CR without smashing the current SP into the ground. By getting a well respected name with a history of making wining commercial decisions in the market instilled with some confidence in the resource but will play wait and see. The sting is that when it all lines up holders will hand over a huge part on "The Greater Riqueza Project" to these "white knights".
I personally have had two opportunities to exit while ahead, once in Chanape and once in Requeza but elected not too. Foolish in hind sight? probably.
What we now know is that the Greater Riqueza Project is a big prospect along the same structure as 10 existing commercial mines. Also it contains commodities that are on up cycle in demand. It will require a big house to take it to production.
To me last week was the first real step forward in that direction. I suspect that if this resource gets through the next stage we again will see profit on our otherwise long lost "speculative buy in". It may be that AA and the share holders club will have its day in holding or banding together for a good return.
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