Member Info for Not2sure

Erm situation does not look great ..Quito is in shutdown and protesters trying to oust Moreno..markets do not like uncertainty and there is plenty of that at the moment

The irony is that to get IMF loans to help the poor they have to introduce harsh austerity measures that err harm the poor !!

Hundreds storming parliament and other government buildings probably not helping !

Certainly political unrest can cast a shadow and depending on the severity affect decisions to invest millions ..however with the lack of substantial oil and gas resources Ecuador has the opportunity to realize income through mining taxes which both this and the previous president were keen to promote although ironically many of the indigenous people are against mining

I was responding to Bozi about how difficult it was for some junior resource companies to raise funds and said I was surprised to see a company had raised 56k Euros which looks a little bit desperate..the company was Karelion Diamond Resources

Bozi thanks for reply..whilst I could not agree more about the outlook for junior explorers and their ability to raise funds on reasonable terms I believe IRR are in a fairly comfortable position considering their main shareholders and if really pushed would not mind betting that the smaller pis would be prepared to contribute to a raise..i was surprised to see a company raise 56K Euros yesterday now that does seem desperate ! but it is the lack of current demand for lithium which is probably the main cause for lack of interest in IRR..however that may change in the next 6 to 12 months as car manufacturers look ahead and try to secure their supplies

Well on the face of it not great as we would certainly have to raise at a much lower price than where we are at the moment as the fallout from NO deal will be a very hard landing

Lol has not been a good day on here for a while !

of a gloomy start..one way or another would like to be put out of my misery on this one !

appear some claws need retracting lol..as a slight distraction I wonder how long it will take to update Q4 presentation if they do at all and if there has been any further transfer of ownership from pis to institutions

Sale process over.. move on

Obviously there was some kind of problem that we did not know about

Bozi ..just out of interest what are the reasons other than financing that you perceive to be for the weakness in the sp ?

Bozi Mike and all ..been out at work all day so delayed response..have been invested in aim companies for many a year and therefore all too aware that is their main reason for being listed to raise equity..totally agree that IRR appear to manage finances well albeit in a constrained market where some juniors struggle to get cash on good terms..I have mentioned the cash situation before and ironically was shot down by some for it only for the raise to be announced at 20p a short while later..similarly I think we are nearing that point again but accept with what we hope we have will be in a relatively good position to raise on good terms..I put the funding issue out there to test the response as to whether posters thought a raise may be necessary before Jorc ..clearly there is outside interest in our resources and a deal would be better with good numbers but I think it is a fine balancing act at the moment as to if we go for some before any numbers are released..of course with presentations to numerous auto cos interested in the lithium and others in our gold resource there may be corporate action of another nature making the future exciting

Just my opinion but although I am heavily invested here cannot shy away from the fact that IRR are operating on a shoestring..yes we are heading in the right direction with the possibility of JORC in Q1 next year but the reason why the sp is stagnant and treading water is because the market is expecting the need to raise more funds and to pick up on a couple of other comments you would not want to get to JORC in Q1 on empty ..that would not be very prudent..I am sure all is in hand and a corporate deal of some description to sort out the finances for the longer term would be good

Untouched ? Geodrill will certainly help preserve cash balances but we cannot avoid spending it completely and surely are under 3million by now

No of course not but so much more expenditure other than the drills and that figure of 3.5m is at end june another 3 months of outgoings ..general admin , surveying and analyzing..I would be very surprised if we do not need some kind of injection within the next 3 or 4 months

Just over 3.5 million pounds at end june ..going to need some more very soon I would say

I think he posted last weekend and still in till the end..not much to talk about until we know the outcome of marketing process I guess

cannot see that anywhere ..what was the size of the order please