Grazer,Yes, the QR is crucial. Topped up catching the falling...

Grazer,

Yes, the QR is crucial. Topped up catching the falling knife but as with just about everything else, I want to see the QR before being prepared to buy.

Even then I am heavily leveraged and probably only prepared to buy upon selling something else. In todays market hard to put a comparative BUY on anything with a PE greater than 7 unless it has a lot of cash and/or growth assets not contributing much to E.

I'd be thinking even in todays firesale conditions a company with 40% cash backing, low down the cost curve, a solid gold asset yet to earn, and oodles of exploration might be considered a bargain if the PE was below 10. I am thinking that apart from greenfields exploration that is probably about where IGO is sitting going forward on the worst pon I am prepared to accept as sustainable. I am however also afraid the prdn may be below expectation, and that the dog ate the exploration homework again, in which case as you imply we might yet see a 2 before recovery.

EL