Never said you were gloating, it was tongue in cheek. But I'm lucky, I have no losses in IGR. Bought my first in 2006. Overall avg is still a little below .30. Seven months ago I would have confidence in stating I was one of the five largest IGR shareholders on HC. Since, I've been slowly, steadily selling down. Sold over 2/3 of my holdings. So I've actually made quite a bit of money out of IGR. Plus a few Rabbitoh trades for beer money. Too bad it's ending with whimper instead of a bang.
Don't know yet what I'll do with my remaining. I've only ever held 2 other gold stocks, AXM, (An ultimate dog), though I got out with a couple of thousand dollar profit. After being up on paper over 80k! And SAU which I made a couple of grand. I don't believe in gold, don't like gold, except in old coins, and generally do not like gold miners. Bought IGR based on business model, IRR etc. Will stick to my bread and butter, short/med term trading of bluer chips, like IPL.
This will probably be my last post here for quite awhile. Don't look at HC much except for IGR. And the GOLD thread once in awhile for a chuckle at The FAR Side. As the great BB King sang, "The thrill is gone".
A couple of other things before I go. Someone asked about the copper. Whilst the grades are quite good, the strike and depth are not sufficient to make a big deal over. They can take the copper slag from processing and probably accumulate a few tons here and there. A few tens of thousands of dollars, nothing exciting. However, it's also possible there may be a decent cu/au/ag deposit lurking somewhere in Majestic. But that is only pure speculation on my part.
Someone else asked what happened to the inferred oz lost in resource statement. The Inferred Category, the lowest, is a pretty useless metric. In practical terms it means "We have reason to GUESS that there is xxx amount of gold here". There can be several reasons to reduce, or lose inferred oz. A company may relinquish a tenement with an inferred resource because they don't want to spend the mandatory annual exploration expenditure. You can find that out in the reports under leases granted or relinquished. Another reason could be clearing of the books. The company may decide that it's not economic and they'll never do anything with that prospect and for the sake of clarity, drop them out of the global resource. If that's the reason ,then it shows integrity. I never put any weight to a claim of an inferred resource. Indicated and measured are really the only thing that counts in Resource Statements. In my view, $3.50, ($4.50 in Perth), and an inferred resource will get you a cup of coffee.
So, good luck to everyone and IGR.
Rabbitoh, are you still at Mulloway adress?
IGR Price at posting:
33.5¢ Sentiment: Hold Disclosure: Held
