gold junior, page-17

If IGR shows some proper commitment to moving ahead with a mine then I reckon they're a very well placed junior to capitalise on a rising rising price. They've got a good 5 year 100koz initial open pit production strategy, moderate grades around the 4 g/t mark mean there's good leverage to a rising gold price.

They've also got a total 1.2 million JORC ounces across the Aldiss and Randalls area. There's also the current salt creek discovery thats had partial assays back already and looking very good, and they've also had improved high grade intersects from drilling around the existing maxwells resource which is likely to improve overall grades of the initial operation and also increases the likelihood of continuing with underground operations once the initial pit has been mined out.

They own a 1.5 mtpa mill but have to move it, and with the recent salt creek discovery and other drilling likely to add to their initial mine plan ounces it'd be really nice to see them announce that work is about to begin to relocate the mill, and work on a final BFS for the maxwells pit is underway, and they're going to be mining in 2008.

There's a similar anomoly on the lease adjacent to the recent salt creek find (and they recently purchased the rights to this area) that could potentially be a sister to the salt creek discovery and some drilling on that should be happening soon as well. They've also got the monger permit which also has good potential as well as numerous other high quality targets across the whole aldiss/randalls area.

Certainly an interesting time for the company anyway with a lot of drilling going on and assay results due over the next few months, hopefully that will lead to some upgrades on mineable reserves and grades for maxwells and an initial jorc for the salt creek discovery.

Who knows, if salt creek is good enough they might start by mining that!

Their market cap is pretty low considering what they've got, and hasn't really changed much over the past 6 months in spite of a lot of good news thats been coming out of the company. (though it seems to have shown signs of a breakout on friday that could take it new places).