slippping, page-20

Well well. Everyone wants instant gratification it seems. I'm a long term holder of IGR. Had a million during their run up into the 60's. Sold down as the GFC struck.

I've been buying consistently over some months and broadly replenished those shares sold. Also was fortunate to get what I wanted in the present cap raising.

IGR has all the credentials to be a truly remarkable gold producer. Grade is king and the drill program over the next 12 mths shd see their reserves and resource increase significantly. I think the funding will be stitched up before options expiry and I don't think the terms will be onerous.

If the POG keeps rising, it is entirely possible in my opinion, to install both mills initially thus enabling higher thruputs from day one.

I suspect that IGR will be a minimum 2x bagger from here within 12 months and probably more likely to be a three or 4x bagger. I'm very happy to wait that long for 200, 300 or 400% growth.

This potential growth is on offer with very little downside risk. The more Au they find the more likely a corporate play develops. After all they have grade on their side.

I am comfortable that the gold plant erection will go smoothly. I'm sure CC and his board will carefully vet their short list of contractors. We know there will be few (if any) surprises after their massive reserve drill program.

Sure there will be short term weakness in the SP until after IGROA's are completed. I'm in no hurry - patience is important in this game. It served me well in the Oxiana days. In at 18c and selling most in the $3 + range. However, it took me a couple of years of patience to generate the huge profits that OXR provided. (I'm back into OZL now - one of the best Cu plays around).

It served me well with AOE (in at $0.34 - out at $3.80). Its doing the same with BOW.

So I think holders shd have patience. I'm not offering investment advice as I'm not qualified to do so. Do your own research.