Ann: Placement of $4 Million and Exercise of Lake Hope Option, page-16

The drilling results by IGO at BH, is for one drill hole only, should be released soon, even if it is a dud, the potential there is still massive. Drilling in these areas in the past returned: 0.6metres at 11.5 g/t platinum,25.6 g/t palladium, 1.4 g/t gold,7.6% copper, 7.4% nickel, 44.3 g/t silver,0.16% cobalt, 1.3 g/t rhodium, 1.7 g/t iridium,2.0 g/t osmium and 0.8 g/t rutheniumfrom 57.1 metres down hole. If they find the source of this mineralisation it will be massive. The JV with IGO, requires IGO to spend $18 million over 8 years to earn 75% interest.
They are also exploring there with BHP under the BHP Xplor deal.
IMO its only a matter of time until another major world class resource is found there, the geology is very suitable for such discoveries.
They also have the large exploration areas near the Julimar discovery at Arkun in WA. They are currently looking for a JV partner there to take exploration to the next stage which involves drilling some very prospective tagets.
Alot blue sky for IPT.