The most important new item in the annual report is that the company as at the 15th Nov had $38 mil cash.
The Sept qtr cashflow report said that the company had $28 mil cash at the 30th Sept; That's a whopping $10 mil extra cash in 6 weeks.
If we annualise this rate of cash accrual we get $86.7 mil P/A or 10.3 cents per share . If we multiply this EPS by a 10 p/e we get $1.03 SP which in my opinion is where the SP ought to be without UG mining factored-in!.
Cheers Moorookamick
IGR Price at posting:
54.5¢ Sentiment: LT Buy Disclosure: Not Held
