The Managing Directors should be pleased!
This is a fantastic deal for both companies and for shareholders in both companies.
Need I remind folks of IGR's huge cash burn for its increases in gold reserves and gold resources that were not exactly startling.
December quarter 2010
Exploration and evaluation $7.958 million
Development $4.883 million
March quarter 2011
Exploration and evaluation $4.591 million
Development $1.943 million
June quarter 2011
Exploration and evaluation $3.501 million
Development $2.238 million
September quarter 2011
Exploration and evaluation $4.568 million
Development $5.474 million
December quarter 2011
Exploration and evaluation $6.184 million
Development $7.870 million
March quarter 2012
Exploration and evaluation $4.224 million
Development $5.461 million
June quarter 2012
Exploration and evaluation $5.395 million
Development $1.829 million
December quarter 2010 - June quarter 2012
Exploration and evaluation $36.421 million
Development $29.698 million
IGR's Proved and Probable Gold reserves at 30/6/2011 were 480,000 ounces.
IGR's Proved and Probable Gold reserves at 30/6/2012 were 513,900 ounces.
IGR's Measured and indicated gold resources at 30/11/2010 were 1,093,829 ounces.
IGR's Measured and indicated gold resources at 30/6/2012 were 1,580,000 ounces.
IGR's Inferred gold resources at 30/11/2010 were 1,077,304 ounces.
IGR's Inferred gold resources at 30/6/2012 were 475,000 ounces.
as holders, we have the right to ask questions, page-16
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