IGR has good quality project and CC is not a smoke and mirrors...

IGR has good quality project and CC is not a smoke and mirrors man. But I have to say that he seems more confident about exploring than producing. I spoke to him maybe 18 months ago and he said at the time that he thought AVO were being a bit game to be moving into production based on their resources identified at that time.

Now 18 months later and he has everything he said he needed back then to get into production and he is still 18 months away from producing gold.

This talk about June 2010 being a very good time to go into production is just a rationalisation IMO. Gold in AUD is now at record highs, energy and labour supplies and costs are fine. Now would be a perfect time to be opening a low cost open pit gold mine. And to suggest that now is a good time to raise equity: again just making excuses for mine. CC knew when the share price was above 50 cents that he had a project that justified developing a mine. Then was a better time to raise funds than now. And if he had done so then we would now be moving into production in the next couple of months and could have been a cashed up producer going into a period of rising gold prices.

I'm sticking with CC and IGR but do not think this has been CC's finest hour.