With IGR not having disappointed even once, the market appears to have developed unreasonable expectations. This is why several recent announcements have failed to impress the market and the sp kept falling. Now that the economics of IGR is known, the market may become more realistic. IGR is a good company and should not be trading at this level.
120K oz per year at a conservative margin of, say, $400 means $48mil per year profit. Some of this will go towards repaying the loan etc., but we are talking figures that are around than HALF THE CURRENT MARKET CAP per year! This is crazy, or did I get my figures wrong?
The above does not include the remaining 1.3 mil oz, the continued resource increase potential from exploration, and the opportunity that this continuous flow of money represents for further exploration, acquisitions and JVs. With this management they can do very well for the shareholders. By the way, DYOR.
Regards, Dratoz
IGR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
