resignation of chair, page-32

Good post onceover..

may I offer you some ponderings

It interests me a little that ICG referred to an average of 1 to 2% sulphides in the core of the porphyry. To bring this back to copper grades I believe this may mean less than 1%....maybe 0.5 to 1.0%? but this does not indicate what the gold grades will be... the assays are the only route for Au...

of course 0.5 to 1.0% Cu is actually pretty normal for a porphyry - but will it be good enough to kick the ICG share price up another leg?

So then the question is to be asked, what Cu and Au grade has the market factored in already? what will mr market be happy with and mark the share price higher? or lower?

I am not a holder of this stock yet and my observation is that this company has very little cash in the bank and has approvals to go ahead with a CR.. (hence my not being a holder at this time...)

rxl recently announced one day that drilling was ready to restart in the next week (with low cash in the bank) then in the next breath went into a trading halt for a raising (i.e. right at the deathknock)

My view is that the ICG directors will have the fiduciary interests of the shareholders at stake and are less likely to pin the CR on the assay results i.e. will be inclined to go early. This is because directors are not expected to play the risk/reward game with the share register ans should ask themselves the downside of what happens if the assays are lower than anticiated.

IMO this supports a raising between now and the assays. Unless of course, the Nitron XRF has told them to hold on..... (this is an interesting conundrum for the asx yes - shouldnt this info be released?). However wouldnt this be supporting the comment re 1 to 2% sulphides?

I will wait and watch on this one.

gosouth