The bottom line here is, has IGR spent the money wisely?
I believe yes, bought a plant, bought a base camp, found lots and and lots of gold that will obviously be brought to account through a new resource statement.
Where is all this heading. TO production.
I think had Chris and the Directors of IGR rushed into production last year, they would be making Ballarat GOod, Bendigo gold, Perserverance Gold and Wedgetail type announcements today.
However, as we have evidenced, Chris is making statements to the contrary.
I have no doubt that production is now the single biggest point of focus for IGR. They are finding the oz's, probably well and truly found the oz's needed for the fifth year of production. Have a read of what the announcements are telling us.
Base camp, acquisitions on strike to current new discoveries and existing land holdings. Chris is consolidating his land holding to guarantee future discoveries in the highly prospective Randall's area.
He is growing the IGR stronghold in a province that is obviously under explored.
The money is not being frittered away on exploration that is not yeilding results. Every announcement that IGR makes is a step closer to the ultimate goal for shareholders, PRODUCTION.
The gold price might be falling in AUD terms, but the number of oz's that will come out of the ground will far outway that fall in cash flow.
Also remember, that gold is heading into it's growth period of the year, the indian wedding season and the middle east buying season. TOIl is going up, tensions in the middele east are growing, the Europeans have told us that thye won't be selling more gold, this all adds up to a firmer gold price over the next 6 months.
I think that if you are not happy with IGR, you are welcomed to exit and look for a better short to medium term stock.
On top of all that Barrick commences drilling in the Gawler Craton this quarter. Don't tell me that IGR will not run on news that drilling for IOCG targets at Borthanna and Allendale will fire up the hearts of the punters. We are looking at a prospect that the largest gold producer in the world likes and believes is prospective for the Olympic Dam style target. Why else would they pump all that money into IGR.
I look forward to the near and longer term future of IGR.
The patient will be rewarded.
Regards
Kojasper
IGR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
