support

With last night's big fall in the US predictably we had some nervous ST sellers and this has quickly filled the gap at 47c however I'm not surprised to see the SP being supported at a low of 45c and now at 48.5c.In a way this is perfect as it gives IGR time to take a rest for a little while and allow some people to add to positions or new players to get on board.

Funnily enough with the USD POG holding up and the Aussie dollar dropping the AUD POG is a little higher but thats not driving IGR's SP.Its this growth story and as the Mining 2007 presentation in Brisbane highlights SC is just the first of 4 more targets to be drilled and of course everyone is waiting on RD.

The drilling program is intensifying with 4 RC drill rigs for 6-12 months and a diamond drill rig on-site soon with another committed to a 6 month contract from Jan.With this much drilling and their expertise as shown in finding more gold the probability of more big discoveries is high in IMO.

On top of that we'll have a revised resource statement by years end and a better idea of when production will start.And then there's Barrick and Oodnadatta.None of Allendale and Borthanna's blue sky has been factored into the SP.If that is a winner then we'll be doing a RMS type move.

Its all coming together and like I said yesterday this big move in the SP over the last few weeks is just the beginning.Who knows where it will go from here but I feel well north of $1 and I hold for the LT.

Cheers
Tigerpen8