what's up ....$1.46?, page-11

Thank you "braveheart" for your frank comments on KRM
vs IGR.
I have equal and substantial holdings in both.
I'm still 50/50 on both at the moment until I see Mar qtr results incl drill.

KRM's Dec qtr report was more informative than IGRs
and engendered more trust. Both diluted in Jan-Feb.

When one compares both to Dec 2010 @ today's sp one gets:-

Item ............... KRM.........IGR

sp....................$1.35........$0.465
Cap..................$339M........$352M
# of Shares........251m.........756m
Debt:...............25.03%.......11.57%
Cash...............$2.6m........$13m
EPS................ -3c..........-3c
Hi/lo 12 mos..$1.23/$1.25...$0.22/$$0.76
Employees...........328...........15
ownership>...........85%...........100%
Location...............WA............Indonesia
Type....................open cut......narrow seam ug.
ozs/ton.................4.............17
Prod. forecast p/a..90K ozs.......45K ozs
Development.......pug mill later...main plant start Ap 2011
Cost..............approx $550/oz...$170/oz (incl ag offset)
Sov. risk.............CO2tax +RSPT......usual 3rd world

In my opinion IGR will outperform KRM to Sept qtr but
KRM will streak ahead post Sept in EPS & SP due to high oz/ton & low no of shares.
KRM is like a mini MML, it poached MML's narrow seam guru & has a very low labour/ cost of production and is immune to Aus. resources & CO2tax and escallating labour costs.
IGR has contract miners and are subject to WA's labour
cost inflation.

Thanks again for your candid view on both emergers and I'd appreciate your feedback on the above

Cheers
Moorookamick
(closeted fundamentalist)