next few weeks

My thoughts from recent announcements.

Lets see where we are:

• More Salt Creek announcements announcing high grade gold. Hole 29 was 36 metres @ 3.42 grams from 44 metres down and hole 23, 48 metre interval grading 3.71 grams from 72 metres down.
• If you have a look at diagram, the proposed RC drilling South West of the holes 37 to 28 of which we have yet to received drill intercepts for any of these with the exception of drill hole 29, it would suggest that the mineralisation is getting shallower as you move to the south. If we get similar grades in these holes at shallower depths, we are looking at more oz’s for a start but also a shallow pit for extraction and a more profitable operation.
• Drill holes 28, 30, 31 and 37 have yet to be released are adjacent to drill holes 29 reporting 36 metres @ 3.42 grams from 44 metres down. These are pending and we could get these in the next week or two because the drilling occurred around the same time as Hole 29 for which assays have been released.
• Diamond drill hole SKD003 has reported an interval of 30 metres from 109 metres. This drill hole is directly to the north of SKRC 23 and in direct alignment with SKRC 29. If you follow my analogy that the intersection of mineralisation is getting deeper from the South to the North, then this drill intercept from 109 metres down gels. We are looking at the discovery of a gold envelope of something to the tune of 30 metres thick running from South to North, dipping to the north and grade and interval increasing from the south to the north. My guess is that we are looking at more than 30 metres at SKD003 and certainly going to be higher grade, especially if you consider that we have been given pictures in the announcement. I don’t know how far away this drill hole is from release to the market.
• IF we can get the same grades both to the east and west of this drilling, then we are looking at a sizable pit and you can bet we are looking at something similar in size to Maxwells where we have about 400-500k oz’s of gold.
• RedDale purchase immediately north is showing the same prospectivity for gold anomalism and is literally a few hundred metres away. They are telling us that this prospect is open to the north, south and at depth. Bodes well that when the RB drilling commences at Reddale, they will find more targets that could indeed part of the Salt Creek system, thus increasing the size of the resource and the size of the pit.
• The purchase of Mt Monger for $250k plus environmental. Why? There must hve to be some decent oz’s in there somewhere, but this hasn’t been reported. I guess this whole area is highly prospective for gold and it is part of the regional consolidation.

What’s ahead:

• Release of Salt Creek diamond drill hole SKD003, RC holes 28, 30, 31 and 37 with more 30+ metre intervals grading 3.5 grams +. The building of a picture of exactly how big Salt Creek is, 30 metre envelope, how wide ??, and how long? Looks like 100 metres wide by 400-500 metres long at this stage and getting bigger. Reddale could make this 1 kilometres long.
• 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.
• Diggers & Dealers this week. Let’s hope that we can get some announcements out there while we are diggers, because that creates a lot of interest. The US poo’d itself again last night, so hope the nervous hands can hang in there for the above announcements.
• Barrack commences the drilling of targets at Allendale and Borthanna later this month. Potential company maker especially in light of the Teck/Carapateena announcements in recent months
• Three drill rigs at Salt Creek. There are stacks of holes to release to the market already, the three drill rigs will create even more assays and more announcements over the course of the next 8 weeks. Then you can add Allendale and Borthanna to that.
• 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.
• Grades being reported at Salt Creek are better than Maxwell’s.

Seems to me like an even more compelling case for investing in IGR than previously stated in the middle of June.

Would be nice if we got some coverage from the likes of MPI. Seeing as they did a placement and a previous Buy recommendation, you would think they would be revisiting this little gem.

Hopefully other astute analysts will be seeing this stock especially at Diggers and Dealers and then follow up with a Buy recommendation. I hope Chris can get some of the analysts out to Maxwell’s and Salt Creek following Diggers and Dealers such as was done two years ago with an analyst from MPI securities.

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 two months.

Regards

Kojasper