Case Study

Ok so Cleveland (CDG) and Troy (TRY) both ASX companies in Brazil and in production;

(1) CDG approx or less started operations on 2.4MT @ 1.48g/t (inferred/indicated resource)

(2) TRY started operations on 2008 with approx or less 126,300 Oz Au (indicated/inferred resource)

IGS has (a) 3.1MT @ 2.54g/t (measured/indicated) - (measured more confidence than inferred/indicat)
(b) 4.5MT @ 2.60g/t (indicated/inferred)
for 635,000 Oz Au.

Comparison with CDG is that IGS has approx 3 times the tons than CDG and approx 1g/t more in its ore than CDG - yet IGS have not put this project into production ---- WHY NOT ???

Instead the clowns (Directors) have taken on a "Dog Project" in Australia with higher exploration/development costs than Brazil whereby changing gold focus to lead/zinc in a crap market for lead/zinc compared to the gold market which in A$ is doing very well.

IGS market cap some A$700,000 and they want to raise A$1m for this "Dog Project" whereby doing a 1 for 10 dilution of SH - seriously this boarders on criminal !!

Either develop Brazil by way of AIM (IPO) to raise funds in Latin Gold (UK) and bring Brazil Project into production or declare bankruptcy so that SH can declare tax relief !!

I put the blame DIRECTLY on TS and his mate Directors for this situation and will never invest one cent in any of the companies they are related too - EVER !!

No liquidity in IGS for months at 0.001 and the shares are now worthless and you cant give them away let alone sell them !!