Chill guys. Once this funding is finalised we should see some...

Chill guys. Once this funding is finalised we should see some share price traction leading up to first gold pour as there will be no need for any instos to cap the share price.

Back in March, I posted about the similarities in the size and nature of the gold projects of Integra and Catalpa Resources. Catalpa had just raised almost $70m from Macquarie in debt funding on what appear very good good terms and hedging. They then raised over $30m in an equity raising which was over 500m shares at 6cents at a big discount to approx 8cent share price at the time. Yes this was dilutionary but with the certainty of the project locked in (and gold price trending up), Catalpas share price has risen from a low of around 7 cents at during the capital raising period in March to 15 cents now. IMO Integras project is lower risk, higher IRR, has more scope for significant gold discovery than Catalpa and notably will be more likely a take-over target going forward. To me this all adds up to great confidence about IGRs prospects from here. I would be hoping for no more than 30/70 equity/debt funding which seems to be what CC has aluded to previously but whatever, am happy to get the funding monkey finally out of the way. Cheers.

Previous post in March: "Check out the 3rd March gold project funding announcement by west aussie Catalpa Resources (CAH). Macquarie Bank agreed to a $67m project finance facility which will go towards the approx $90m project capital required. (Full details in article in today's Australian newspaper.

Compare the feasability studies of IGR's and CAH's similar sized projects for yourselves. IGR is forecast to have lower capex requirements and lower cash cost per ounce ($504 versus $636)amongst other parameters.

Integra's revised Feasability Study by June should be an absolute belter with substantially revised assumed higher gold prices than previous and expected lower operating costs in the current environment. IGR's Internal Rate of Return (IRR) for the project should be much higher than previous forecast of %41.

The fact that Macquarie have stumped up $67m and Lion Selection willing to chip in $15m, it shows that even during this economic crisis; low risk, quality projects with sound IRRs will still be attractive to debt funding and other financing measures.

This deal for CAH should be a great fillip and confidence boost for IGR directors, management and shareholders. I will sleep even more soundly going foward knowing that our great project should be financed on good terms within 6 months."