Just had an interesting reply from Chris.There seems no doubt the gold price is being manipulated.The true cost of mining for many of the overseas mines is about USD780/oz.He showed in detail how the price is being manipulated to force about 5% of the worlds production out of business and the hedge funds then make a fortune as gold goes down and then up.The highest cost mines are in South Africa and most reserves are deep and require constant water pumping.If they close it is very difficult and expensive to reopen.A lot of this info may come from Barrick the worlds largest producer.He also stated these hedge funds have done the same with oil in the past very successfully. IGR are looking at ways to start mining without a capital raising. He still states IGR is the best open cut gold mine opportunity in Australia.For that reason they are getting interest for a takeover the last option in there strategy. They are focussing drilling on a new gold trend no drilling results yet. Everybody is suffering including directors. Tolli
IGR Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
