Lots of speculation on what the sp of IGR may look like down the track, and good to see it is all positive.
However, back to reality...my take at present is that there is a major move to consolidate goldies in the area as feeders to a larger centralised producer. Ultimately since IGR have good resources we are staring down the barrel of some nasty activity soon IMHO before prices start to rise. BFS may thrust us further down that takeover track if it is good. Certainly a good chance of that while the current sp remains around 30 cents.
The worst part of any takeover at present is if we work on a 40% increase of current price, then a takeover target would be somewhere around 42 cents. Pretty poor in my opinion and no reflection of what IGR really represents.
While I certainly have no intention of selling anywhere near those lows, I think many day traders and mums and dads will. Too many people these days looking for a quick trade rather than hold long term, based on fear of what happened to stocks over the past year.
Hopefully the BFS is already completed with the view in mind to get into production sooner than expected. Perhaps the PALA activity will ignite IGR to move faster. Hope so!Maybe CC managed to get some backers from his recent Hong Kong presentation to fund such a move.
Just my 42 cents worth...but hopefully, I am totally wrong and IGR will become a producer and be in the money much, much more than is currently being reflected.
C'mon IGR...
mm
JUst a reminder from MINEWEB.COM on 10th July
Integra Mining Ltd (ASX: IGR) is now "boning up" on the Zug-domiciled company Pala Investments which has become its fourth largest shareholder.
Managing director Chris Cairns said it believed this was a material point to disclose given that the company is advanced in commissioning its Randalls gold project, 60 kilometres east of Kalgoorlie, and in the light of the bid by Avoca Resouirces Ltd (ASX: AVO) bid for another new eastern goldfields gold miner Dioro Exploration NL (ASX: DIO).
Pala Investments currently holds a 22.51% stake in Avoca which is mining gold at Higginsville.
Pala's website shows that Pala Investment Holdings, based in Zug, has $US1 billion in investments under management, while Pala Assets Holdings Ltd - based in Jersey - has $US700 M under management and is focused on "early stage" investments.
With the renewed boom conditions for gold in Australia, Integra is just one of several companies with gold projects in WA's eastern goldfields who are organising pre and post field trips to their projects during the big annual Diggers & Dealers Forum early next month.
Chris Cairns also said today that the feasibility study for Randalls was in the final stages of completion and will be released to the market when complete.
Recently reported diamond drilling as part of the feasibility work at Salt Creek - one of the major deposits in the Randalls group - gave better intercepts of 40.5 metres grading 6.48 grams/tonne gold, 15.5m @ 4.5 g/t and 4m @ 12.82 g/t gold.
Integra said it had a consolidated resource at Randalls of 1.8 million ounces at an average grade of 2.8 g/t gold, with 72% of resources in the indicated category.
Meanwhile, the fight for control of Dioro, which mines gold north of Coolgardie and Kalgoorlie, remains with Avoca having improved its offer this week from 2.82 Dioro shares for one Avoca share to 2.4 Dioro shares for one in Avoca (which at market close today was $A1.54/share and Dioro shares closed at $A0.67).
Veteran market competitor Bryan Frith said in today's edition of The Australian newspaper that the Australian Securities & Investments Commission (ASIC) had instructed accounting firm KPGM and technical specialist reporter Coffey Mining to issue supplementary repots on price and resource evaluations for Dioro.
IGR Price at posting:
29.0¢ Sentiment: Hold Disclosure: Held
