Excellent results on top of the Quarterly which shows how much drilling has actually been done in the quarter ($1.3m spent on exploration and evaluation). It is quite clear from the announcement that they think the extra 100,000 have been found (and probably then some).
Next quarter will also probably be filled with results given they are forecasting spending $2m on exploration and evaluation.
IGR currently have $7.6m in the bank, so some significant value will be added before any potential future dilution.
I would suspect there would be a reasonable chance that limited money (if any) will be required to be raised to put the project into production, as it will be able to be debt funded with the extra ounces (and with some hedging).
This one is looking great... I'm pretty sure we will look back in a year and laugh about how cheap it was in the past.
Cheers Marvin
IGR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
