Plant acquired, details to follow, but with the note about looking at options to fast track production, and as CdChi1 stated that there is broken ore at the bottom of Maxwell's pit. They also told us that they are drilling the life out of maxwell's because it is open in all directions, most of the BIF;s ( Banded Ironstone Formations ) in the area are yet to be fully drill tested I wouldn't be surprised if we didn't get another resource upgrade at maxwells and an early start to production.
Drilling is in progress and four metre samples have been received, 1 metre samples are pending. Objective " Resource upgrade and resource extension at depth".
Drilling results out of Spice, Randall Dam ( not heard of that one before ) and King looked good and have a lot of survey work happening at Aldiss too ( French Kiss/Little Peck and Rowes Find ( Potential Copper/gold here previously announced)).
Randall Hill nickel potential also looks interesting.
How about that left field announcement about the uranium mineralisation potential at Aldiss. Now I know a thing or two about Chris Cairns, one is that he would not put this in for the Uranium hype potential that's going around at the moment. They must seriously think there is uranium potential here. I thought that Borthanna had more uranium potential being in the Gawler Craton along the same structural fault as Olympic Dam.
What can we say about Borthanna? Can someone clear somehting up for me. I was told that the consulting Geologist that is working on the Borthanna prospect for IGR was an integral part of the discovery of Olympic Dam and he knows a thing or two about IOCG targets in the Gawler Craton.
Would be interested in getting some feedback on this one.
Gold price kicked again on the weekend to above $USD650, wow that Pre-Feasiblity study must be getting even better. By the time they release it, IGR will be staring down the barrel of a $150m+ operating cash flow after capital items. If you think about that, that 30 cent valuation from MPI Securities is looking mighty conservative. I wouldn't be surprised if we didn't get another updated report from MPI in the next little while with a valuation more likely above 50 cents.
Still can't believe that this stock is sitting in the low 20's.
What a nice way to finish. Borthanna to commence drilling in the week beginning 8th May, that's just over a week away. I remember when they drilled Toondina Dam, it took about 3-5 days drilling to get to basement.
I am interested in why the website states that the "Borthanna target warrants a closer inspection with at least two drill holes penetrating the top of the Gravity Body #1". Also the fact that this prospect/target has a depth to top of 216m and depth extent of over 1500m, why they wouldn't be drilling below 500 metres? Hopefully someone can answer these questiosn or maybe the company does plan on drilling more than one hole having taken so long to get the drilling rig, it would seem reasonable that more than one hole will be drilled in this campaign.
As someone stated on that other chat website, IGR has 100% interest in this target compared to Minotaur's 25-30 % of Prominent Hill. This one could take IGR to the stratisphere.
Looking forward to an exciting June qtr.
Regards
GoldenBug
IGR Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
