Excellent summary , Marsup.
Regarding Majestic , I think the analysts ( when they get back to serious work after this week ) and some of the more serious IGR investors will have a hard look at whats said here today .If I am reading it correctly :
* Initial Inferred Resource 256,000 Oz
* Cut off date 30th Nov 2010
* "current" strike length was 400 metres --ie the initial discovery zone is all thats included
* the 4th Nov 2010 Asx Announcement discussed 4 new zones of high grade mineralization to all compass points 200mtrs ,500mtres to 1 km from the discovery zone --at that point , yet to be drilled sufficiently to met JORC standards .Some of these read as well if not better on grade and width
* needs some more research , but I seem to think we have gone from zero to 256k ozs at Majestic , even quicker than Salt Creek . More drilling and quicker perhaps ---and whilst the grade might be lower thus far , its shallower and potentially much wider spread ( and at this time putting aside the potential for economically copper at depth )
There is enough in this announcement , coupled with the confirmation that the study on adding the second Ball Mill tout suite is well advanced , to feel very comfortable that in the first part of this 2011 year , IGR will confirm that its moving to 140k ozs per annum.
Those deeper underground ozs starting at Cockeyed Bob are accessible in a modest time frame ( recollect 3 months plus ) and at a relatively modest cost ( more research here , but suggest sub $5 mill ) and all paid from cash flow / cash reserves .
Looking forward to the 31 st Dec Qtly to see production/ costing /margins are tracking ---but even further three months hence to the 31st March picture .
Yes --you might get IGR a bit cheaper ---but my guess is a lot more traders and investors will have the stock on the "accumulate " radar now .
JMHO
Cheers
- Forums
- ASX - By Stock
- IGR
- upgrade out 710,000 ounces
upgrade out 710,000 ounces, page-42
-
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add IGR (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online