Ann: Excellent drill results continue from Binduli gold project, page-19

Some interesting thoughts james..

what I think will happen ..going from talks with JP and MR and all the anns /reports /presentations we have access to from the web...

1#-IRC goal is 500koz JORC Gold Reserve 2019 (companies mine reserves not resources) so this would be 5yrs x 100koz production or 10yrs x 50koz pa etc - (500koz reserves usually come from around a 2moz resource)

A good breakdown for those that want a better understanding around Resources Vs Reserves etc
http://www.24hgold.com/english/news...mp;redirect=false&contributor=Mickey Fulp

2#-Takeover risk- I understand at this stage sub 50c wouldn't interest our biggest holders but who knows as Intermin progresses forward with operations they could well take less or want more .. If JP Mgmt goal of 500koz JORC Gold reserve is reached then I'm sure we will have neighboring Gold producers attention depending on grade to value-- ( I understand Janet Ivy which NGF purchased off IRC was a very low grade av. sub 1g/t but still profitable for NGF) ..

One can, of course, throw some number around if say IRC proves 500koz reserve close to a Gold producers plant say NGF's ... if say AUD Gold $1700oz and say NGF believe they can mine and treat it for say $1000oz = $700oz Profit then
whats it worth paying to gain the extra Gold?? $100oz ? $200oz .... one can see the upside to IRC ... longer term we could be targeting 1moz Reserve etc

We are in a brilliant location with far too many hungry Gold producers... to stay around $36mill Mktcap for long.

And all the Big IRC holders know this ... just do the hard work and continue to prove up Gold reserves and let the producers come knocking.

I personally wouldn't count out an optimistic unsolicited offer if IRC continues to grow assets without SP following suit
but I think all it would do is get the market to wake up to how undervalued the company is on prime Gold-Vanadium assets