I reckon 1 in 50 goldies manage to grow and create shareholder value at the same time, outpacing gold in the bull market Rabbit. It pays to be critical.
Another instructive comparison is Medusa (MML), similar production level to IGR. Their current focus is underground development, sinking a couple of shafts etc. They get impacted by a terrible 1 in 50 year storm, production falls sharply last 2 qtrs, the plant is processing low grade development ore as they strive to get the mine/plant ready to double production rate (200koz) from mid late 2013.
Yet despite these short-term issues, challenges and costly investments, look at their cash flow... and compare with Integra who've been firing on all cylinders, gold miner of the year etc.
IGR Price at posting:
60.0¢ Sentiment: Hold Disclosure: Not Held
