question to the group, page-133

I've only had time to glance at IVR had a glance at IVR so far. I saw a $5m cap raising has just been completed. I'm going to assume that hasn't been included in the last 1/4ly which has outflows of $700k and cash at end of 1/4 of $1.4m.

I read that they're expecting the Assays to show 'up to 1.5g/ton AU. Am I reading that wrong?

To be honest, normally after first glance I would probably not give it another look. You've however got me intrigued, I need to look a bit closer at this and keep my imagination from doing the analysis.

Really what matters is how much gold is there and how far from the surface it is. Drill results say hits start from 600m not sure if that's 600m from the surface. The next is seeing what Mills are around and what capacity they're running at. Every meter if hall adds $s to the bottom line. Underutilized mills will strike better deals than ones near capacity. Having to build one would hurt.

The Olympic dam is mentioned several times in the results. These guys have limited resources and only dropped one hole but it suggests they might know what they're looking for. I might try and see if anyone from IVR is linked to the Olympic dam project. Then I've got to find out what it is and compare early drill results.

In short, this is now my weekend.