The AFR page was titled 'Conditions ripe for M&A activity'. One...

The AFR page was titled 'Conditions ripe for M&A activity'. One aspect of the overall article quoting Charlie Aitken from Bell Potter Securities was that "it is far cheaper to buy existing cash-producing assets than build from scratch...we shouldn't underestimate the scale of listed targets that will be in play in this M&A cycle". Nineteen potential targets were ranked by Calendar YTD share price performance and included Qantas, Pacific Brands, Myer, JB Hi-fi, Hillgrove Resources, Whitehaven Coal, Sandfire Resources and Perseus Mining.

Integra Mining had the 6th worst SP performance since Jan 11 of -33%. Of note, Silver Lake Reources (our next door neighbour) was also on the list and topped the SP performance +19%. IGR forward P/E was listed as 9.06 versus SLR forward P/e of 12.77.

I still maintain my call over the past year that I would love to see a tie up between IGR and SLR. Many sensible reasons and 'real' synergies IMO which I will not labour over yet again.

The next few quarterly reports will begin to show even more traction by the Integra gold train as it continues to fund all of its operations from increasing cashflow as well as debt reduction, reduction in hedge, underground trial mining, adding cash to the bank......and all the while committing to an one of the most aggresive exploration programs by a goldie of its size. Fundamentals will eventually prevail and then there is blue sky of discovery. Hang in there people. This would be the worst time to sell IMO.

PS. Some posters continue to compare IGR metrics to retailers or other industrial companies. The problem with that comparison is that Harvey Norman will never suddenly find a warehouse of theirs they had forgotten about filled with 250,000+ LCD Tvs and fridges to sell for some profit. Whereas a gold producer still committed to exploring like IGR is likely to announce on the ASX when you least expect that they have found a new gold discovery with xxx potential ounces. IGRs track record over the last 4 years says I am backing them in for another discovery and soon.