Independent Resources (IRG) won last week’s AIM Cesspit pump and dump (on mug punters) prize as it got its rescue £2.76 million placing away at 3p (the shares being 6.5p) after the pump but before the dump. But a City source makes it clear that the operation is not over yet.
The company admitted in its post dump (ooops I meant placing) RNS that it would be looking for money again. After the funds just raised will only last another 15 months and that is assuming that no drilling takes place.
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