Well I misinterpreted their long section the other day and reused width instead of length to do a back of envelope volume calc on resources. Suffice to say it looks a lot more exciting with the correct strike length.
With todays extension to strike length, plus good down hole width and improved grade, salt creek is looking like a pretty exciting addition to their resources.
I just hope these guys are committed to moving to the mining phase asap and won't keep putting it off for more exploration. Can't they start work on commissioning the mill or finalising pit optimisations and financing for the first pit(s) while this exploration of the new discoveries go's on in parallel? Does anyone know do they need to know the final througput configuration they're going to go with before starting to move the mill? What about environmental work etc.
given the moderate grade of the resources this will be a great leveraged gold price play if they can get to production soon. And with the additional ground they've got (monger has plenty of potential as well) as well as targets in the existing leases things can only get better once they start mining. They'd also have the potential to provide toll milling to other lease holders in the area if they commission the mill for enough throughput.
IGR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
