assay results including 5 metres at 2.84 g/t, page-28

Should there be a takeover bid, my guess is that it will be after the Mar qtr
results being published (early April) and before the UG is in full swing
(Oct.+). Any hitches in between those dates will likely see the SP drop and
an opportune time for a takeover bid.

Likely cash burn for the Mar Qtr is a worry and IGR should have budgeted
expenditure better to avoid the possibiity of a CR over the next six months.
Increased spending and lower grades is a recipe for a CR.

If IGR gets through the next six months without a CR or a takeover bid
and if the UG operation produces the goods, then IGR should be right.
But the "ifs" are the worry.

Cheers
Moorookamick