Currently suspended, placement to be announced so possible weakness on relist.
Are there any opinions on this company (formerly Relode). Actual company name is Integra Mining with ASX code being IGR.
Current status is that there is a 220G oz open pittable resource.
Production costs are quite high though conservatively stated. Thjerefore highly leveraged to gold price.
Scoping study showed operational net cashflows of around 32 million, which is significantly more than market cap.
Underground mineable resource of another 200Goz.
Plenty of exploration potential in and around the project. Former MD Wayne Dimech has resigned, to focus on his oil company...and Chris Cairns has taken over the helm (not the NZ cricketer, but with a similar mgt style so ive heard).
Chris has an interesting resume as below.
Would be interested in opinions.
Cdchi1
Chris Cairns:
Chris Cairns’ exploration experience commenced in the oil and gas industry in Canada before completing a BSc in Geology from University of Canberra. He did contract work for CRA Research in Canberra and the Yilgarn Province of WA before completing a First Class Honours degree in 1992. Mr Cairns joined BHP Minerals in 1993 where he initially supervised gold exploration in North Queensland and later acted as a geochemist for eastern Australia before moving to the Manila as Supervising Geologist and establishing the BHP Minerals Philippine Copper / Gold exploration unit in 1995. In 1997, he joined Aurora Gold’s epithermal gold / silver Mt Muro operation and was appointed Exploration Manager in 1998. In 2000, he joined LionOre as Supervising Geologist responsible for the Thunderbox Gold Mine feasibility drilling programme and then pre-development drilling and orebody re-interpretation for the Emily Anne Nickel Mine. Mr Cairns then joined Sino Gold and was appointed Geology Manager in 2003. He has had primary responsibility for design and execution of the Jinfeng Gold Deposit BFS technical programmes including deposit interpretation and mineral resources estimation. Mr Cairns has extensive drilling and project management experience in progressing gold projects from exploration to development.
