slippping, page-19

Time will tell. I guess once the placement was announced some weakness was arguably predictable so those that took their money off the table are looking clever right now (as long as they also get back in before the price moves north again ;-)).

I can see that for a non-producer they might be looking a little expensive on a market cap comparsion, but I still believe the resource grade and quality will amply justify this over time. Just looking at Saracen for example - their grades seem much lower than IGR's - that must translate to differences in risk and profitability. IGR's phase one resource comes predominately from one pit and its a pit into a previously unmined resource and its high grades for open pit and low dilution levels due to its geometry.