Quote Originally Posted by denpal View Post
I'm not sure why people rate IRC given its lethargic history over many years and it's apparent inability to get properly going on projects. I know that companies with minority JV holdings do not see the value of those holdings fairly reflected in the MC. For me I prefer to go in on companies that own and develop 100% of their project. Time will tell.

I've gone in on WPG as an example, this company has bought out its JV partner so it's the opposite strategy really.
Well we will see--(WPG sure have to get that AISC down)------- if JP hadn't taken over I certainly wouldn't have been as keen to buy as much as I have ......but then I have great trust in Jon Price-MD as I've found him to be a upfront guy that always returns emails,answers calls.... etc he certainly worked hard to drive PXG value till being stuffed around by J.V and Gold market crash.....

Now round IRC cash position ....(market value 22mill)

-As at 31 December 2016 we had 3.493m in the bank (+2.2mill in listed investments)
-$700k from Wiluna Calcine's have been received, after 31 December 2016. So it did not show up on the books.
-$430k is likely to be received by 13 February 2017 (60 days after the initial JV announcement)... quarterly indicates that they progressing.
-$2.15mill in exploration cost from TEAL (if all goes according to plan) will be received by the end of March 2017.... my estimates based on two months of production.
-$1.5mill worth of options (@7.5c) is likely to be struck by 1 July 2017....

Of course recently AXF J.V committing 6mill to the monster Richmond oil , vanadium and molybdenum 100% owned by IRC could well add another dimension outside the toll treatment Gold J.V profit style IRC want to head down >>>

IMHO IRC will blow 20c before mid year