world class gold/copper discovery, page-7

Hi Agathos

Good post.

I just wonder if we have already seen the fall (as you described) in the SP that we had to have. If you were to look at the chart back beyond 2000 and in the Taipan Res days then I think you can see the speculative nature of what was going based on mergers and demergers and a full merger between Nu Star and Intrepid and later IAU and EMP.

In 2008 we saw the SP as low as 0.08 before clawing it's way back to about the 0.34 mark.

I posted a number of charts around then suggesting that IAU was charting a saucer and if it went through 0.60 it could quite easily get to a dollar given the gold they were getting out of Paulsens and charting principles. I even gave a timeline.

Well I was wrong with both the timing and the price and shortly gave up charting as a complete waste of time.

I agree with you about being cautious but I think that the EMP Tujuh Bukit mine has come into the hands ie IAU at the right time and the latest capital raising seems to give me confidence in the project.

With somewhere between $170 - $210m in the bank now - to be confirmed - and a piece of ground that was described to me as potentially the 10 largest mine in the world and if not top 5 I think IAU is a risk worth taking.

I hasten to add that the info provided to me was from a big boy but not in the sense you were talking about that is to say he has no hidden agenda.

I state this with full knowledge of the risk in hand ie the approvals but I think that Indonesia can not afford to let this one slip by.

All the best of the season to you

Cheers
BW