first gold pour., page-38

re: placements hi Andrew.

My understanding is the placements have been finished, whith monies received and shares placed.

I can understand your frustrations at the moment, but I'm using this price weakness to accumulate.

When comparing to other Australian gold companies with assets overseas (eg. kcn), ibr are clearly undervalued by many multiples - one of the main reasons I am invested in them.

The market will awake soon when the $$ come in and are evident in the quarterly. The company are now cashed up and free to pursue their expansion plans unimpeded.

With managements fortunes so closely linked to the share price (due to their large holdings), I am comfortable that 1) the placement was for good reason and 2) they will be trying all they can to drive the share price.

cheers mate