IGR need about $65m to get into production. $14m for pre-strip and the rest for erecting the plant and mining camp. They have ample $$$$ for ongoing exploration. By the time they start pouring gold, in my humble opinion, their reserve/resource is likely to be much larger.
Instead of 1.8mOz Au, I would think we will be closer to 2.25mOz. Huge ongoing drilling program adjacent to existing ore body and in the new JV area. U/G mine prospect will also become more solid.
Debt funding should provide about $20m I would estimate. The rest equity funding. Thus thing the Perth article is probably a little off the mark.
I am very confident that IGR will see decent SP appreeciation as the cap raising and stagging passes into history.
I am also of the view that IGR have the potential to become a very significant new Au miner with very little risk to SHolders.
I am poised to increase my holding considerably.
IGR Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
