fundamentalists sleeping

Fundamentalists must be sleeping because a company like IGR who is profitably producing has failed to track the POG in $AUD.

For example 4 months ago (12th April 2011) the price of gold in AUD was $1483/oz (Share price then 52 cents). This morning gold is $1784/oz with IGR share price of 49.5 cents!.

Now let us factor-in this windfall into IGR's share price
looking forward based on 12th April prices.

Production for comming year say 100,000 ozs.
Extra profit: 100,000 ozs x $300 AUD extra profit
= $30 mil AUD
Now divide this by 842 mil(no of sahres)
That's 3.7 cents/share or mutiplied by a conservative
forward multiple of 12 gives us 44.4 cents/share extra value or:-
96.4 cents/share price based on 12th April's values.

I'll say it again, folks, Fundamentalists are Asleep!

Cheers
Moorookamick