0.60 this week and 0.8 next week , page-7

Hi all, maybe time to sit back and draw a refreshing breath and relect where all this is going ! This saga goes back 12 mths when a fig of 65c was mentioned as a "done deal"(by someone privy to info)while drilling was being done.Anglo held the lease and proved up 100mill oz back in 1995,but stuffed up and lost the lease(think they overlooked renewal)and genorah et al jumped in.Hence the Anglo legal claim to get it back and the final settlement/withdrawal of claim to lease (approx 13/02/08)-the mole said the SA Minerals Dept compensated Anglo with some other good leases/ground for them to go away quietly (so win-win all round).Seems the 100 mill oz was not Aust JORC complient so reproving up the resource was needed for BFS etc (maybe 100 mill oz SA does not equal 100 mill oz in ausie maths).So far about 20% of lease has been redrilled and proved up approx 20.4 mill oz(more drilling is going on for the rest of the plat and more upgrades to follow).Big plus is that IGC have the mining approval/licence, not the other guys..so me thinks that makes us important !!. TS said in the West Aust on 30/10/2006(I have it in front of me)"that based on in-ground valuations currently attributed to similar projects of about $70 per ounce and was confident a 100 mill oz resource could be proven up well inside the 3 yr JV schedule and he estimates IGC's 15% share of 100 mill oz would be worth around $1 billion-a huge premium to IGC's current market worth of just $14 million"... At the time of this article/press release to journo John Phaceas plat was about $1000 an oz, now it's close to $2000.. so does that increase the value our lot ?? (ie >$1 bill).Does that now mean more than $70/oz in the ground? You do the no's... 20.4 ml oz X 15% X x$ in ground divided by shares on issue plus options.I was in a taxi the other day and a dodgy mate/cousin of his who says he is in the know from a girl who gets around and around told him that the very current expected fig is $1 to take us out.A problem I see is that we have some of the same mgmt (CFE) steering this deal that just got done and dusted by the Chinese and the Russian.. are they up to this deal against the likes of Anglo/Xtrata/Nkwie-NKP?? Lets hope they lift their game and consider the shareholders first this time!!If directors start exercising their options or selling(as Turner of CFE did on 21/07/08) you better move fast.