Ann: Peters Dam Joint Venture with Rubicon Resour, page-25

re: Ann: Peters Dam Joint Venture with Rubico... i hold IGR, MCO and TRY amongst my goldies, so i'll try to be balanced

IGR is being valued higher than MCO because the market sees IGR as the safer bet and MCO as riskier.. IGR is great value and i believe will turn into a successful production story (as long as we don't get snapped up), however, there is far more potential upside (imo) in the rich workings in the MCO tenements and blue sky above the current share price - MCO's issue will be proving they can get it out of the ground efficiently and economically and proving the grade factoring.

you cannot simply compare directly the IGR and MCO share price performance since they were both at 10c either - MCO have issued free attaching options which themselves are currently worth over 6c a share = implied 24c price based on today's high.. also note that IGR's share price has been boosted by the AVO / DIO takeover play and speculation (which happened the week after i sold down my initial IGR position, awesome timing)

i consider TRY to be the most undervalued of the lot given management's past track record and the quality of tenements.. again the market is doubting due to the transition year and the discount naturally applied to foreign projects

would happily purchase more of all 4 as i believe they will all be successful (until proven wrong)