To be quite honest I think there are a lot better opportunities out there at the moment.
The reality is the only immediate price catalyst would have to be Jungle Dam, and if you look at the way the company has been preparing its latest presentations it has now slipped down to the bottom. This tells me it is not exactly a priority - the way I read it the grade is fairly average and of not a sufficiently high tonnage to capture anyones interest.
As I said earlier they have stated they want to farm out the Ridgeback/Bute prospect and until thats finalised no drilling will be going on.
Having said that they are certainly targeting the right commodities Au, Ag, Cu, Fe
Still hold in hope, although at 12 Mil MC and probably less than 2 Mil in cash there is potential for more downside.
IVR Price at posting:
8.0¢ Sentiment: None Disclosure: Held
