Question

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Why had SD GOLD not maintain its equity position with ICG or have added to their investment with ICG ?

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1)  95 % of the PP ( ""FUNDING FOR EXPLORATION" ) has been done through , flow-through or Quebec flow-through at a 30 - 40 % premium to the then share price. It would not have been prudent to not take advantage of these tax breaks also Integra may have compromised the 30% kick back Quebec gives for exploration. There are other hurdles to gaining and using Chinese money.

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2) One mistake juniors make looking for funding is by going to the very company they want to pay them a premium for the resource in the future.  You as a investor fund / invest in a companies exploration,,,, take all the risk drilling hoping mother-nature is kind and big brother is there saying thanks and gives you some low ball buyout offer.  It is like selling your soul to the devil.  It is good to have a major own a small number of shares, shows you have a project of value,, but you want to see that the majority of ownership in a company have the same interest as you. This plan has taken time to put together,, we have Mr Munday with a controlling interest, PNP with a few million shares,, all have the same interest as us,, SD Gold we have just where we want them,, at 7 %%%% ! 

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Have a look at what Alamos Gold is doing to ARZ,, Alamos came in and bought 20% and gave ARZ a low ball offer they can't refuse ! This will not happen to Integra,, one of the things Mr Hughes taught every one,, don't loose control and give away the prize at the end of the day,,, then it was all for what ? hand everything over to SD Gold ??

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I know this has taken time, with the type of geology at Lamaque it takes time to build a resource, we didn't have $30, million at any one time to get builg oz for the next NI 43-101.  Think of this as a long term buying opportunity,, this will be a critical year !!

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Marine2