IGR could be producing 150,000 oz by the end of next year. It just dawned on me that Salt Creek is increasing the grade of overall resource (3.5g/t average say, for total open pit resource) and New Celebration can be configured for 1.5Mt pa - that would be a lot of gold production over 5 years. I guess it all comes down to how big Salt Creek really is. I’m sure the higher grade would also bring costs down significantly, imagine $450-$500 an oz. IGR will be a cash cow!
Mt Monger was also flagged as having open pit resource available, so you would think Salt Creek would be the preferred site for the plant give it’s proximity to Mt Monger and Maxwell’s. It all starts to get clear now, not only did CC want to improve mine life, but he also wanted to increase the head grade to improve costs and impress the banks.
Things are starting to add up.
Now all we need some definite direction from management on how and when. Production scenarios and a solid working plan will convince investors of the great story that this little company is. IGR have been lacking credibility because of their lack of solid plans, I hope that changes over the next couple of months. We’re so close and have been waiting for what feels like an eternity….
I don’t know what to dislike about IGR???? I guess all the short term sellers will have to do for now.
IGR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
