looking to break 10c.....here we go, here we go, h, page-18

re: reply to ripped Ripped,

do I like the company-yes.

in terms of getting the moths out of the wallet the usual parameters apply:-

Management.....tick

Commodity........tick

Sovereign risk....tick

Access to infrastructure(given the potential size of the project.....tick

Native title issues.......not aware of any

Environmental issues....not aware of any

Project size......just about there in terms of being meaningful

Economic factors (eg grade/tonnes/shape of orebody/stripping ratios/dilution/metallurgy etc)......the $64 question.

Shareholder base......still some largish holders going back to the ReLode days, would not surprise to see Robin Morritt move some of his shares but the stock has good broker support and is liquid in terms of turnover.

I know of this region going back to the mid 80's. It has always been one of the most under-explored in the broader Kalgoorlie region. In addition to IGR there is a substantial ground position to the north held in jv between Hampton Hill and Teck where they are also very active drilling away.

Grades are good ,rather than great, and there is substantial potential to expand the resource base over time with fresh discoveries.

Being a conservative 'wanker', the issues I have in the short term are plant selection (new one or second hand) and work index-the rocks here are hard=slightly higher crushing/grinding costs which may eat into the grade somewhat.

I would imagine these issues will be clarified in coming months if not weeks. They have come from the clouds, so to speak, in no time which also impresses me. Having the Annual Report out to that standard in such a short period after balance date also reflects well on management.

Avoca was probably the pick of the juniors at Diggers, but IGR did not get a gig unfortunately as I feel that it too would have been well received.

Worth a punt? Don't know of too many better stories!!!

Sentiment? See below.

Cheers,TAS