It's refreshing to hear from someone who actually knows what they're talking about on this thread.
You pretty much hit the nail on the head by distinguishing between drilling designed to increase the overall confidence in the resource, (while perhaps not adding signififcantly more ounces will prove invaluable for a BFS), and drilling designed to test out the known strike extent of a deposit.
Imo, there are far too many cowboy outfits around marketing deposits with inferior grade and/or a large proportion of their ounces as an inferred resource only. As far as IGR is concerned, although I am not 100% familiar with the numbers, I would be happy to see a substansial proportion of the resource converted from indicated to measured ounces, and another say, 100K ounces added as inferred/indicated along strike.
The biggest mistake IGR could make would be too jump into mining this too quickly, and potentially f$$k the pit optimisation and ore body interpretation up by discovering more high quality ounces at a latter date, that could have fallen within the original pit shell design.
I want to see a determined but measured approach, and a proper appraisal of all the drilling data. We've already seen at Davyhurst what can happen if a company does not do it's homework and conduct a proper exploration programme first. Admittedly, a slightly different situtaion to IGR, but relevant nonetheless.
jman
IGR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
