welcome back Rosey.. it has been tough going here for the loyal...

welcome back Rosey.. it has been tough going here for the loyal and no doubt your frustration is more than warranted..but i along with Goldy am not jumping at all and in fact am preparing to build my position.. all things being equal

for what it is worth..i had a decent chat with the CFO of IVR, after being informed that JA was at yet another conference as we all now know, in Perth. Said CFO was very helpful although it was clear that we would not be discussing geology

we talked about the Hong Kong presentation and whether it was prudent of them to not inform the market of 1) the event and 2) the presentation.. the answer was concise and effectively they deemed it not market sensitive and the presentation not relevant due to it being already released material.. in other words, the executive decision was made to restrict the release of any announcement for the sake of not overloading the market with already known information...that i can accept

this lead onto Perth and i walked away from that exchange with the feeling that Perth will be presented to market and there will be new information.. of what significance, time will tell..what i am looking for is some clarification from JA regarding the broad zone of lead/zinc encountered at the most northwest margin of their western sheet excursion.. possibly also some results of gravity survey at Paris?

i questioned him about the merit from a financial point of view of chasing the western sheet when there was still work to be done centrally and his response was balanced. He fully acknowledged my disappointment with that campaign, however he went on to re-assure me that with the more effective driller on side, they are mobilising significant resources towards deliniation of a JORC.. again no time frame..

most interestingly, he said that they could have gone ahead and released a resource estimate to satisfy the market but it would have been castles made of sand as there were too many variables in the previous set of drill results.. when they do finally get to the JORC report, it will be a much more definitive estimate, free from any uncertainty that may have arisen due to core discrepancies in the first round of drilling at Paris... this again, i had to accept because it is more favourable to have a bullet proof JORC..

furthermore, they are still committed to a path that leads to production, rather than being taken over at a massive discount to the real value of what they are working on..

Lastly, i asked about the progress with landholders at Roundabout and he told me that they were being co-operative and it is progressing well..this is something that they are really excited about as well.. for me they cannot get in there soon enough to get that gravity survey underway..

it was also clear to me after a lengthy discussion that the CFO is feeling shareholders pain and they are aware of shareholder's concerns and have been receiving plenty of feedback as such..

My take away is that a CFO taking the time to shoot the breeze with a retail holder shows some understanding of the level of concern out here and was at least an attempt to address this..i was completely satisified in that respect

we are now at a really interesting junction because IMHO IVR are poised to really ramp up their activity to a level we have not seen before and yet the market is stationary, seemingly paralysed from the disappointment and fatigue of the last 6-9 months.. i mean how many explorers can say that they are about to spend $3m in one QTR with 2 maybe 3 diamond rigs on top of a potentially world class silver deposit with another $9-10m in the bank?

the market has judged IVR fairly to date IMHO but we all know how quickly the tables can turn..

keeping it locked despite the red ink.. it's now a screaming buy IMHO