Ivernia Inc IVWFF

Latest Debacle

[99921]

What a ride ownership of this company's shares has been! Over the past few years IVW's performance seems to have created a situation where government and regulatory officials are now reacting emotionally rather than logically to any opportunity to shut the mine down. From what I have read there has been no leakage of lead from the bagged and containerized concentrate. There is no danger to anyone from the metal they have found "in the mud." That metal may have been there for a few years but we don't know for sure. The mayor and government are making statements to the effect that they are close to telling IVW to close the mine unless they can change their process to produce ingots. All this over non-harmful lead amounts in some mud picked up on the outside of containers. A very sad situation for shareholders like me who bought on the strength of what appeared to be a good resource in a friendly country close to markets and all managed by people who appeared to be reliable and reputable. Management seems to always try to do the best thing under all circumstances but their image is, unfortunately, badly damaged. You would think that the task of identifying the source of the lead in the mud would be straightforward and that it could be done relatively quickly. Shutting down for an indefinite period would certainly indicate otherwise.