when will i listen?, page-36

Hi tooli,
I dont think IGR ever said they had 2.2m ozs. they did state in 2008 they were targeting 2.2m ozs. And just to remind investors, in Apr 08 there were 370m shares, $26m in cash, 60c sp,
So what happened?
GFC certainly didn't help. remember opus prime? IGR got hammered. by OCT we were 9.9c sp. So their promise of "production by late 09" had to be ignored.
Since then we have been stuck in a rut at 1.8m ozs JORC resource. Clearly, there are resources not yet at the level of confidence that would enable IGR to claim them as reserves. Lucky Bay, Fly camp, all the underground stuff, new stuff.

Superficially IGR has done not much since 08 except more than double shares on issue, burn cash, make lots of 'discoveries' and high grade strikes, but it has not added to its reserves by doing the necessary concentrated and infil drilling, and 'production in late 09' has become production in late 2010. As others have stated there are also the new 'discoveries' that we have heard zip about for years.

To me IGR has a mixed report card. As i've been here since 2005 i'm not going to bale when we are so close to production. But I do hope that IGR start to turn all the 'discoveries and hits' into the reserves of maybe 3m+ ozs that most of us hope are there.