Mark it down to experience. When a TH is called for this sort of...

Mark it down to experience. When a TH is called for this sort of announcement that doesn't contain much new information to achieve a material difference then that is always a sell opportunity and possible swing trade for the nimble on the inevitable short lived spike. That was the essence of the unstated underlying point I made with a post the other day about my curiosity with the need for a TH.

Anyway, as I said yesterday, there was a bit of information in that updated Resource Estimate that filled in some blanks for me....... mainly relating to geology and the big difference in metallurgical challenges between the shallow weathered and leached shale, clay and limestone ore and the deeper oil shale. The shallow ore now looks much more likely to be feasible in my simple mind than before this announcement. We need the results of the metallurgical testing from China before an opinion can be formed about the deeper oil shale ore feasibility likelihood.

Regardless, IRC's core business is gold exploration and mining. Their stated vision is to become a mid tier gold producer. So there is plenty of news, opportunities, risks and reward to go yet. No need to get down about SP movements on a day to day basis. One should keep their eye on the long term and the 2 things underpinning my confidence is the capability of management and the top notch tenements package around one of Australia's best gold producing terrains. After all, the so called experts say that the best place to find gold is where gold has already been found........ we all know the history of the Kalgoorlie goldfields and recent activity shows there is plenty more gold to be mined as efficiencies in underground mining continually improve.

The vanadium is a free kick bonus IMHO. No doubt it has the potential to add value to IRC market cap, but we still await much more information about metallurgy, feasibility, and especially the intentions of AXF. Plus, who says that IRC will stay involved with this globally significant vanadium resource as the door knockers will inevitably turn up if the feasibility is studied in more detail and proves it's economic feasibility. It could be a great asset for IRC to sell off and thus not dilute shareholders for capital raises as the company moves to achieve it's strategic vision of being a mid tier gold producer. It is all supposition one way or the other by anyone at this early stage.

Still plenty of value yet to be realised in IRC IMHO, but DYOR etc etc blah blah.

Cheers