Iron Brdg Res Inc. OEXFF

Velvet could use IBR to go public

[JDavis17]

If Velvet wanted to go public, they could do a reverse takeover of IBR. I would vote for that, and keep the resulting Velvet/IBR shares, as they would then have a great contiguous land package, much lower overhead, and the ability to raise the needed capital for growth.

IBR alone will run out of cash far too soon, then what?

[Ditto99]

IMO, IBR will have to issue equity. I have them with $2mm in the bank with a $5mm available credit that they won't touch at the end of the year. This assumes they CF $10mm in '19. That get's them 02/08-21 and 00/08-21 on steam along with 03-17,  08-22 step outs which should be competed mid-summer. There is gas infrastructure in the ground, will have to re-activate a pipeline. with

[Ditto99]

*assumes $10mm in '18...not '19. '19 should be north of $20mm cashflowed.