I don't invest in gold companies, because the present gold price is $A1,400. The market doesn't care about $A1,400.
They might care a lot about $A2,000. I believe gold will be at or above that price by the time IGR gets into production in June 2010 (at the earliest).
If I have to sit out a 12 month wait until the first ounce is produced, knowing that my investment upside is limited by a hedge...well, I'm sorry - that's not why I'm invested in gold shares and IGR won't be getting any more of my money.
IGR Price at posting:
18.5¢ Sentiment: None Disclosure: Held