SP my M8, no one can question your generosity & I look forward to helping you pay the bill at the subi party. You & I & a swag of long termers have never wavered in our belief in ICG.
As i have said before, ICG has been undervalued & off the radar for far to long, this makes it similar to many resource plays of late. BUT - ICG has a great deal going for it that sets it apart from the crowd & I think the wider investment community is just starting to realise this. There is a sentiment shift in Copper, which has slowly been building.
I think Ross & Justin are both smart guys & think they are working on a number of fronts, speculation on my part, but they are areas i would be working on if i was them, so i'm sure to some degree they are:
1 - Resolving the ownership rights to Chanape, 3 years ago they brokered a very good deal for ICG with the concession holder, giving him 2.5 m shares in the company for payment of US$500k that was due at that time, valuing the deal at the time at a 20 cent conversion rate. Another $3m due in December to give full ownership to ICG, I believe IMO they are working on a similar deal ??
2 - I also believe they are working on a Maiden resource estimate for the epithermal mineralisation, which the market has obviously attributed no value, hence the $6.5m MC. This IMO has been most peoples undoing re this stock. The epithermal system at Chanape is massive & likely to be a stand alone project in its own right, above the Porphyry.
Lets look just at Clint Breccia & remember there are another 90 odd Breccia pipes that haven't been tested as yet. Clint Breccia has average 60m at 2.3% Cu ( + other credits) in 2 holes, those holes are approx 150m apart. We don't know yet whats above or below, but given the depth of CH 33, its anyones guess. But lets say we have 60m diametre pipe x 150m depth, which we have = 424,170m3 @ 2.3% Cu = approx 9000T Cu @ US $5000T
= US $48m, Thats just one section out of 2.5km x 1 km Chargeability anomaly & Clint Breccia could be a lot deeper than 150m ??
3 - Experts report, cant wait to see it
GLTAH & do your own maths, mine is probably wrong
ICG Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
(20min delay)