• Announcements for the last 3 months telling us that IGR are finding oz’s with every drill hole. • The MD is hinting at the new resource statement that is pending. • MD is telling us the all that most of the drilling in the last 18 months is outside the current resource estimate • New presentation to AMEC was showing production scenarios, up to 160k oz’s per annum compared to last pre-feasibility study at 115k oz’s per annum. • New discovery at Sal Creek being drilled to death to get a resource, potential open pit design. • Possible resource statement from Co$% Eyed Bob anomalies with only a few extra drill holes • Share price of IGR was 21 cents one year ago and now 16 cents.
What’s ahead:
• Tax Loss selling for the next week or so before people start to buy back the stock they sold for tax purposes. From 20th stock should start to recover solidly. • Statement on the direction of the company and specifically BFS details and costs and also a timeline to production. My personal opinion is that this will come sooner rather than later. • We will get a re-rating that the company deserves. Currently $30 per resource oz, $45 below that of it’s peers, giving us 100% + upside to $75 per resource oz. • Barrack commences the drilling of targets at Allendale and Borthanna in July. Potential company maker especially in light of the Teck/Carapateena announcements in recent months • Discovery of further oz’s at Salt Creek, Co$% Eyed Bob and Maxwell’s. • Resource statement, showing anything up 1.5m oz’s or more in the kitty with majority in the indicated category, BFS to bring these up to measured category. • Additional oz’s coming from Maxwell’s, Maxwell’s North, Co$% Eyed Bob, Anomaly A & E and the new Salt Creek discovery. • Grade is getting better for the production scenario at Maxwell’s, toward the 3.5 grams a tonne than 2.5. Better margins, greater returns and profitability and strengthens case for funding of construction. • Acquisitions. Review RBR’s last quarterly to see map of Eastern Goldfields, the location of the New Celebration Plant that IGR owns and the proximity to Maxwell’s. You work out the possible acquisitions that would seem logical to IGR • Four more targets like Salt Creek to hit yet. • Aldiss could produce company maker, where, don’t know but could possibly be at KZ5, French Kiss Eastern Limb or KIP6. French Kiss target is very exciting, as it could determine the system feeding the already located oz’s
Seems to me like a compelling case for investing in IGR.
People that have been selling into the recent strength would have to be MPI customers who picked up stock at 14 cents and selling at 10% profit. Frustrating. Thanks very much MPI, thanks for nothing. Where are your marketing skills? You’ve done nothing for IGR except line your own pockets with fees.
What about getting some research out there and getting your other clients into IGR.
My very real concern is that IGR is going to get taken out by one of our mid range and well funded Australian Gold companies. And you can bet that the traders will sell out at the first chance above 20 cents.
I’ve waited for 7 years for the real value to come out of IGR and think it is about to happen.
Happen to stay loyal while all the lower quality junior resource stocks go ballistic. Stick to what you know, and I think I know IGR pretty well.
Looking forward to the next few months.
Regards
Kojasper
IGR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
