For those that have been reading HC with their eyes closed, the...

For those that have been reading HC with their eyes closed, the AUD gold price hit around $800 last night.

At the risk of repeating myself for probably the fiftieth time, I will again requote (paraphrased) what Chris Cairns said in a REuters article last year:

'We will be happy to see a gold price of $650." He was referring to AUD gold price.

This of course means that at that gold price, the project was quite feasible...but at the current AUD gold price...well it doesnt take Einstein to work out what that means...simply multiply the ounces to be mined (say 350,000 oz) by the difference in gold price, possibly take off around 10% to account for additional demand ralated costs, etc, so say around 45 million extra in terms of net operating revenues.

Of course the higher gold price wil also mean that higher flat forwards can be obtained, which will add even MORE to the bottom line.

Production is a foregone conclusion even at lower gold prices, the scoping study will give us a taste of potential, and if we're lucky IGR will also release 'sensitivity' results based on current or close to current gold price.

The question for those invested, or wanting to invest, is where is the gold price going. If you think it has limited downside, will be stable, or will go up...then IGR is a clear winner. If you think it has substantial downside, then stay out unless you're trading.

As to the current run up in shareprice...not surprising...people getting set for the scoping study...IGR presenting at a paydirt conference shortly...you would expect IGR would like to talk about that at the conference so the results would have to be released before then.

And then there are drilling results...anyone betting against them finding additional deposits or the like is betting a losing poker hand imo.

And then there are additional resources around the area that IGR may, or may not acquire. Chris has already proven himself as a dealmaker (Randalls purchase, Avoca JV).

The performance of the SP has been in my opinion one of the best on the market, absent of large moves either down or up...rather a gradual movement upwards...this is symbolic of a strong shareholder base that believe in the story and are willing to back their management (and their team) to the hilt.

I tmay not provide the massive one day returns traders are looking for, but I'm not after that so doesnt really bother me.

DYOR, as you know i am heavily invested in this, and so I am completely and utterly biased!

Cdchi1