Ann: Presentation June 2012 , page-3

I believe IGR still has a great deal of potential and is very good value around 38 cents. They obviously had to backflip on a large planned paydown of corporate debt this quarter to keep the cash reserves decent due to production interuption. The previous quarterly report forecast a debt repayment this qrtr of approx $9m which would have left only $2m debt remaining. However the presentation today forecasts that at 30 June debt is expected to be $8.4m (so only $2.8m payed down).