no news is good news

No news means that IGR is on target to produce
90K ozs of gold to next March.

If we examine the March Qtr reports we find:

(a) March first month of full production
(b) That profit for March was $7.4 mil

Now lets annualise March & calculate EPS:-

= $7.4 mil x 12 Devided by 841 mil (no of shares)

= 10.56 cents per share earnings.

Now multiply this by a conservative forward multiple
of 10 (PE:10) and you have it:

$1.05 per share.

So at this stage, no news is good news!

Moorookamick

PS: At this phase of development a 6-8 year mine life
is good.The ramp-up of drilling ought double resource
within the next 18 months. mm.