how much gold has igr found?

After reading the 4th. November ASX announcement "Four More High-Grade Gold Zones Discovered at Majestic" where the normally conservative IGR mentioned that "Majestic discovery emerging as a major gold system..." and the 18th. October ASX announcement "Recon Drilling Identifies More Targets at Majestic" where IGR reported "a large number of recconnaisance aircore gold drilling anomalies within an overall anomaly area of 2.5km. by 2km" I believe there is a chance that IGR might be on the verge of finding the big one.

I believe there is a chance that IGR might be in the early stages of proving up the mother lode. If so, this could be one of most exciting gold discoveries in Australia for nearly 20 years.

Time will tell.

However, what we do know is that IGR already has 1.8 million ounces - and that information is about two and a half years old, and that IGR has spent millions of dollars since in drilling and obtained numerous impressive results.

Some time ago I suggested IGR might become the next Plutonic Resources, a junior which on the back of gold discoveries in Australia reached a market cap of $1.6 billion early in 1994 with gold briefly touching US$400.

Now with gold US$1383 and I expect going much higher in the medium term, do your own sums on what sort of market cap IGR could reach if successful. In my opinion it could make current share prices look pretty insignificant.