next week, page-4

LSM,

Say another good day.Didn't get to 60c but that was probably a little optimistic.Nonetheless a close at 54.5c is great,just off the the day's high of 55c.

They're very excited about RD however the air core drilling just tells them whats at the bottom of each hole and the surface so will have to wait for all the follow up drilling to confirm whats in between.But from these results so far it looks very promising.

I asked him about a cap raising and as flagged previously this will happen before the years out.This time there will be less dilution with the SP much higher now and he couldn't say exactly how they would go about it but hinted that it could be a placement to institutional investors.If this is the case this would be better than to retail clients like previously as they have a tendency to look for ST profits whereas the instos will support the SP having a LT investment time span.

I won't be able to make it to the AGM on Friday but if anyone does he'll be fielding questions regarding this.They will be lots more drilling over the next 6 months and more cash is necessary.I know some of us weren't too happy with the last cap raising but without it IGR would be out of cash now and just look at the discoveries they have made.On top of that it was done before the subprime fall out and if done after that it would have been a lot harder to raise money.A large/major shareholder sold out during this period as it rattled them but they mustn't be feeling too good now with where the SP is!When the opportunity arises and they need the cash you have to take it.Who knows but we could see further fall out from the subprime mess early in 2008.Everything that is happening to the company and SP right now is a product of a lot of hard work and careful planning over the last 18 months and this will continue for the next 12-18 months.Without good management and personnel this company wouldn't be where it is today.

In London and Frankfurt they hope to be successful in selling the IGR story but not looking for funding from there.With whats happening with the company and the continued rise in the POG with a bit of luck the trip will provide further support to the SP.

The announcements will keep flowing but when is a good question as the labs are so busy.Anyway look forward to tomorrow and Friday.

Cheers
Tigerpen8