I have absorbed the quarterly. Almost all old news. However, not as exciting as it could or should have been.
It is hard to get a clear handle on many aspects of the present IGR story. One in question is the UG mining. We "know" it looks positive and will have 40000 t processed later this year. It was going to be October. Are they into the "good" stuff yet? How many metres per week are they progressing? All unknown. Exploration spend is huge over a wide area. We need better ennunciation of their exploration on a macro scale. Some years ago CC showed me their overall exploration plan. Very interesting, but seen nothing like it since.
CC needs to do a roadshow around all Oz capital cities and do comprehensive preso to existing shareholders. He needs to "weld them on". The preso needs to go into much detail rather than try to attract new money.
He also needs to forget about the word "acquistion" until they have their SP back into at the mid 50's. Spend the line of credit to fund mill upgrade after hedge is finished. At present SP, others will be looking at them as possible t/o target.
They need to focus on higher grades to get Costs down. I could go on and on, but don't feel inclined to at this time.
All I know is its been stressful to see SP under 30c. Fortunately, looks like POG is about to move upwards out of summer doldrums.
IGR Price at posting:
31.5¢ Sentiment: Buy Disclosure: Held
