Logical or not, a name and symbol change seem like positive news and progress of some kind (pseudo-progress?).
I've lightened my holding but am still expecting to see some activity in near future - the lease they are pursuing should be settled later this month (soon) and I would expect to see a bounce in the SP, though without some sort of news on profitable outcomes I can't see the SP moving far.
I wouldn't be surprised to see the SP find its way back to 1c sometime after positive news on the lease, but their existing lease won't be drilled before the wet which is probably best as they can sit on their hands until after the wet when the course of the recession will be becoming clearer.
Robert
PS Now it's Integrated Resources Group Limited and has an ASX symbol of IRG (from the Tuesday the 16th)
IIG Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
