a comparison with dom, page-10

Hey Coop

You stated:

"If you were going to invest in a new gold explorer running an IPO with an unknown team from the West...you would be hard pressed to find a more impressive 12 months than what Matt Wood and his team have put together on IBerian throughout 2005."

I'll give you one, and it dates a few years back now...a little company called Independence Gold (now Independence Group) which I managed to become a top 20 shareholder in in the 30-40c range. Pretty much unknown management except in the close WA circles. A gold explorer that thought outside the square and went for a nickel project that noone wanted.

I have since unfortunately exited their register (at between 1.20 and 1.40).

So is IBR thinking outside the square? Damn oath...Portugal and Armenia don't exactly pop up as mining hotspots, and where better to get a bargain than a completely overlooked country. I still have on record from a poster here saying along the lines of 'Not really strong on the Europe front so not really interested.'

Hello to that person, im sure you'll send me an abusive email tomorrow :-), better i just shout you a beer one day though ;-)

Will this be another IGO for me? Unfortunately not since most of my money is tied up in IGR (which will be an IGO itself), so i cant accumulate nearly as much IBR (in $ value) as I had IGO...and of course, IBR is at a higher market cap base than IGO was at the same time...however imo it will provide substantial upside!

Cdchi1