what's happening!, page-13

Hi all,
every quarter that goes by without any set back to the forecast production timeframe is a relief. And even the cost increase of 11% is reasonable - not something to panic about. So maybe the market is gaining confidence in IGO. A change in sentiment always seems to push the IGO share price quite easily - up or down.
I was also happy with the quarterly report except for the cash spend on Tropicana. My take on the details are that IGO has $102M in the bank, and expects to spend $100M to finish the initial project. Hence, the need to "establish a corporate facility with an Australian Bank". My recollection is that the capital raising a while back was to have fully funded Tropicana - but the Jabiru debacle, lower nickel prices and increased Tropicana costs have changed things. Anyway, gold production is creeping closer, Jabiru has improved, so there is cause for optimism. I'm in for the long haul (and have been since 2002).
Sirecho