igo to take over jml, page-12

Winsam

Time will tell on this one whether it is accretive in the medium to long term for IGO holders.

The differential in the PE ratios is probabaly more testament to Bonwick's exploration prowess, and their access to De Beers data base, and core samples. Hard to place a value on these two aspects, although IGO holders will now share the fruits of both with JML holders via dilution.

I also find PE ratio's a little meaningless with Resource stocks as invariably the POR are so low. NPV through DCF and growth pipelines to use the FCF are a more meaningful comparison.

IGO appears to me so have the pedigry of a stand out mid cap resource stock, however i realised this fact too late and am not tempted to engage in stock at current market prices.

Will continue to watch in case an unlikely cataclysmic economic event provides an entry significantly lower than the current SP.