re: Ann: High-Grade Gold from Salt Creek Diam...
I am pretty sure that Pala (or someone similar) are capping the SP. No evidence of course, but its allowing them to accumulate quantities on dips.
I've been buying. IGR is now by far my largest holding. In fact in % terms its the highest holding that I've had in overall portfolio % terms since I seriously went after OXR when it was < 30c a share in 2002.
The huge profit that I reaped from OXR allowed me to take large profits out of AOE, IGO, AWE, and others. I expect to do the same with IGR, but it all takes time.
I held almost a million IGR when price spiked to 64c or so in late 08, but sold out 65% as market slid. I've now bought back towards previous holding level.
What we need to yield a multi - bagger is:
a. Top Management b. Top resource with huge upside potential c. The right commodity d. Access to cash (preferably debt financing) to fund the development e. Not too many shares issued to swamp net worth per share f. A substantially de-risked protect via extensive drilling of prospective ore body. (they achieve what they expect when mining - no nasty surprises)
IGR meets all these in spades. Raising $75 million should be a breeze. Probably $25m in cap raising with the rest debt funded. Or via a strategic partner (similar deal to PNA???)
In my humble opinion, substantially risk free execution of their plan, to be outlined in the BFS, should see a major re-rating of the SP. Over time this will move higher as the move into production and into a serious bull market for Gold. Remember, we are getting more A$ for every US$ as the Aussie $ appreciates in value.
IGR Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
