upgrade out 710,000 ounces, page-42

Excellent summary , Marsup.
Regarding Majestic , I think the analysts ( when they get back to serious work after this week ) and some of the more serious IGR investors will have a hard look at whats said here today .If I am reading it correctly :
* Initial Inferred Resource 256,000 Oz
* Cut off date 30th Nov 2010
* "current" strike length was 400 metres --ie the initial discovery zone is all thats included
* the 4th Nov 2010 Asx Announcement discussed 4 new zones of high grade mineralization to all compass points 200mtrs ,500mtres to 1 km from the discovery zone --at that point , yet to be drilled sufficiently to met JORC standards .Some of these read as well if not better on grade and width
* needs some more research , but I seem to think we have gone from zero to 256k ozs at Majestic , even quicker than Salt Creek . More drilling and quicker perhaps ---and whilst the grade might be lower thus far , its shallower and potentially much wider spread ( and at this time putting aside the potential for economically copper at depth )
There is enough in this announcement , coupled with the confirmation that the study on adding the second Ball Mill tout suite is well advanced , to feel very comfortable that in the first part of this 2011 year , IGR will confirm that its moving to 140k ozs per annum.
Those deeper underground ozs starting at Cockeyed Bob are accessible in a modest time frame ( recollect 3 months plus ) and at a relatively modest cost ( more research here , but suggest sub $5 mill ) and all paid from cash flow / cash reserves .
Looking forward to the 31 st Dec Qtly to see production/ costing /margins are tracking ---but even further three months hence to the 31st March picture .
Yes --you might get IGR a bit cheaper ---but my guess is a lot more traders and investors will have the stock on the "accumulate " radar now .
JMHO
Cheers