Ann: Randalls Gold Project Feasibility Study , page-26

You make some good points Mooroolbark...but you forgot one.

As investors we have choices.

Yep, you can look at IGR as reflecting a PE ratio of 7...but there are plenty of better bets on a PE of 7 with not as much risk. Damn it...there's a few in the REIT's sector which have better returns with equal to or less risk than a company moving from explorer to producer status in an era of uncertain POG.

I think to do the sums on a POG of $1,250 can hardly be considered "conservative". What if the POG goes backwards to the $800 mark?

We're then only one wave away from a shipwreck.

Look this announcement is like opening your kids school report, after you've spent squillions on a tutor, and still seeing a raft of B's and C's.

It's not "fail" stuff...but hardly "brag at the bar" stuff either.

I'm considering my options.