IGR - worth a better look

[Volcano]

Only 10million market cap

Interesting director...

Christopher John Cairns B.Sc(Hons)
Managing Director
Chris Cairns’ exploration experience commenced in the oil and gas industry in Canada before completing a BSc in Geology from University of Canberra. He did contract work for CRA Research in Canberra and the Yilgarn Province of WA before completing a First Class Honours degree in 1992. Mr Cairns joined BHP Minerals in 1993 where he initially supervised gold exploration in North Queensland and later acted as a geochemist for eastern Australia before moving to Manila as Supervising Geologist and establishing the BHP Minerals Philippine Copper / Gold exploration unit in 1995. In 1997, he joined Aurora Gold’s epithermal gold / silver Mt Muro operation and was appointed Exploration Manager in 1998. In 2000, he joined LionOre as Supervising Geologist responsible for the Thunderbox Gold Mine feasibility drilling programme and then pre-development drilling and orebody re-interpretation for the Emily Anne Nickel Mine. Mr Cairns then joined Sino Gold and was appointed Geology Manager in 2003. He has had primary responsibility for design and execution of the Jinfeng Gold Deposit BFS technical programmes including deposit interpretation and mineral resources estimation. Mr Cairns has extensive drilling and project management experience in progressing gold projects from exploration to development.




http://www.gold-eagle.com/gold_digest_05/locantro042605.html


MY COURSE OF ACTION AS A GOLD BULL

For those doubting their stance as a gold bull or in need of gentle reminder I would suggest taking a vitamin B supplement (the fizzy variety) on a daily basis and apart from the odd Friday night slip up after a heavy night there should be plenty of gold to go around. I see the current malaise in the Australian Gold Sector as providing a rare opportunity to accumulate major holdings in those companies I feel will lead the sector out of one of its darkest periods.

Over the course of this year I have purchased for clients and myself an 18% stake in the emerging gold company Integra Mining (IGR) (www.integramining.com.au) that closed today at 8c. Our purchase price has varied between 6.2c and 8.6c, however I am not terribly concerned with averages sub 10c and am happy to continue to build on our stake where possible. Based on the following I believe this one could be the rising star in a sector that is in terrible need of a shining light,

Resource base currently around 730,000 ounces with an EV of around $12 per resource ounce in comparison with a sector average of $40. (Resource ounces/market capitalisation= EV)
Major projects 130km East of Kalgoorlie in a highly prospective and under explored region of the Eastern Goldfields
The company is aggressively exploring at Aldiss and considers some areas have the potential to deliver a major gold discovery. (Results from early stages expected shortly)
The projects offer the potential for higher-grade hits combined with visible quartz veins towards the South
The company possesses an Olympic Dam target at Borthanna in South Australia (Copper-Gold-Uranium) where there has been no value assigned to the project.
The Managing Director resume is impressive in terms of his work at Thunderbox (2m ounces) and with Sino Gold in China. Whilst it is still early days I believe that he has the expertise and the ambition to see this company develop into a Top 10 Australian Producer over the medium-term
The company is lacking a profile amongst local gold investors, however I find that the best advertisement is an ASX announcement as opposed to spending large amounts on glossy advertising. The other critical aspect missing is sentiment, however one only has to look back towards the great gold runs of 1978-1980 and even 1985-1987 to realise that once the cycle turns from "greed" to the "fear of missing out" overvaluation becomes the norm. It should be remembered that Bre-X was in 1996/1997 not 1896/1897. Fear is temporary, greed is perpetual
Apparently this one gave a cracker of

[cdchi1]

Hi Volcanoman

Glad someone else is following this stock :)

I happen to be one of those clients of TL, a great broker who focusses on small mining companies...he's no geologist, but its not all about knowing which rocks are which...networks and logical thinking are key requisites in playing the small miners game imo.

I thought I'd post this earlier post (below) I did on IGR in this thread...and delete the old one...hopefully we can get some discussion going on it (and people looking at the company, as it has a big future imo).

For the record the last sentence of the post still applies, ie I am still buying (generally sub 7c if i can).

>>>From an earlier posts of mine:

Gidday KIWIs,

Why are you not buying this company, Chris Cairns is the Managing Director after all OK might not be the cricket player himself, but if cricket was a sport played by mining company directors this guy would probably be an opening batsman!

Anyway enough ramping to Kiwis, who have probably already got their bids in as soon as they saw that name (suspicious lot).

IGR, what can i say. $8 million market capitalisation with around 700,000 oz of gold (as of a couple days ago). IGR used to be Relode, a company which wasnt going anywhere fast with Wayne Dimech in control....but the old oilie is out and Chris is now running things...check out Chris's history with Dalrymple (eventually taken over by Lion Ore). Add Geoff Davis as chairman to the mix (GD is MD of Medusa and one of the industry's heavyweights!)

Only two weeks ago, IGR only had oh 450,000oz of gold at Aldiss...around half of that was accessible by open cut, and a scoping study had shown it to be economical, albeit at slightly higher AUD gold price. Unfortuantely (or fortuatnely depending which way you look at it), IGR decided the financial results of the half resource was not good enough 'just yet'.

So what have they done? They've gone and bought Randalls (see www.solomonresources.ca). Why Randalls? Well its not far from Aldiss, and its mineralogy is pretty much the same, ie it can complement the Aldiss project by providing additional feed.

So is it now marchig towards production? Admittedly not jsut yet...IGR will need to confirm the Randalls project resource...and it will also want to get as much resource at Aldiss proven up. As today's ann suggests, drilling has started in a big way. So keep an eye out for gold results.

The work is not finished by a long shot, IGR has to confirm its resources, show it has access to infrastructure etc...not an easy job. But with Chris at the helm, i reckon they've got a better chance than most junior goldies out there.

For the record, I met Chris Cairns at the RIU explorers conference and apart from being a top bloke, I can guarantee he is not the cricket player but he will be hitting a few sixed with IGR imo.

I have bought heaps recently incl thru placement so please be aware that I am extremely biased!!! I am also still buying.

Cdchi1

[Greyhound]

Ok boys,well ramped.I'm giving it ago.I'll send you both a beer voucher if I become rich.[8D]

[Volcano]

Don't forget the olympic dam magnetically similar drilling occuring this quarter, though I'm happy enough with some proven gold reserves.

Could really move if some others take interest in this one, really bottom levels at present, and some great managment, Chris was part of LON previously and had some connection to the thunderbox ;)

[cdchi1]

Not IF but WHEN.

:D

Course assuming you bought enough!

Cdchi1


quote:Originally posted by Greyhound

Ok boys,well ramped.I'm giving it ago.I'll send you both a beer voucher if I become rich.[8D]

[Volcano]

I prefer penfolds, can you offer that instead?

[cdchi1]

Well its up over 50% since volcanoman and i posted on this in May. And thats despite a large placement at 8c.

And 50% is just the start.

Since then we have had a resource upgrade from 450G non-JORC oz to around 1.1 mill JORC oz.

If you want a gold stock, this is the one to be in (or DOM if you want a producer), read my posts above for more info.

Please note i am extremely biased as this now forms a VERY significant part of my portfolio.

Cdchi1

[Sunshine007]

Yep, picked up a few at 12c and 12.5c on Friday based on $13 per resource ounce and technicals.

[Gofish.]

I'm in at av 9.9c.
Didn't have funds sub 9c.

Recent report put 30c on sp target - anything in the 20's by end 06 would be nice.

[Packersoldkidney]

Any of you still aboard this? Very good ann. today, and Borthanna drilling commencing tomorrow.

[ASXIOU]

I own heaps. Started buying over a year ago and keep adding a few every so often. Long-term potential is outstanding IMO. Borthanna a possible company maker although quite high risk.

[Packersoldkidney]

I'd be surprised if Borthanna came in, but you never know. Been in the doldrums but should get a kick along now.

[Revhead]

Hold quite a few of these too/still. It hasn't been a fun couple of months watching all the profits dwindle away on this one. Most of the speculation in the share price was/is on Borthanna, and what with the delays in drilling etc, interest and share price has waned.

Some good grades in yesterdays announcement. Hopefully Borthanna will come in - a pox on pok for suggesting it may not!!

Rev

[Packersoldkidney]

quote:Originally posted by Revhead

Hold quite a few of these too/still. It hasn't been a fun couple of months watching all the profits dwindle away on this one. Most of the speculation in the share price was/is on Borthanna, and what with the delays in drilling etc, interest and share price has waned.

Some good grades in yesterdays announcement. Hopefully Borthanna will come in - a pox on pok for suggesting it may not!!

Rev



Just so long as this pox is treatable with my Clap Creme.

[Revhead]

With the amount you have spent on your "Clap Creme" over the years, you no doubt have shares in the company now!!

[Packersoldkidney]

The creme has been my angle into the biotech sector: I saw a gap in the market and went for it. Some gaps can leave you with a nasty rash-like suprise though, and a damned itch that won't go away.

[ASXIOU]

Nice to see a bit of movement with un-loved IGR. In the wake of BDG,BMA,CRS disasters Chris Cairn's decision to defer production until he was extra comfortable with resource grade and size is proving to be very wise move. One to watch over next 12 months especially if Gold price starts to move again.

Disc: hold IGR, DYOR

[ASXIOU]

Starting to receive the recognition it deserves. Up over 40% in last 4 trading days on no news.

Disc: Hold IGR, DYOR

[ASXIOU]

If you believe that Gold is about to enter an unprecedented bull market (which many do) then IGR is a no-brainer. Production should commence from Aldiss-Randall towards the end of 2008 at over 100,000ozs per annum. Chairman Graeme Beissel purchased nearly a million shares on market in last couple of days which is always a very good sign.

Hold IGR, DYOR

[burtsboy]

Further high-grade
gold drill intercepts from shallow depths at the Salt Creek gold discovery in the Company’s
100% owned Randalls Project. The Company is running out of superlatives to describe this
very exciting grass-roots gold discovery as it continues to deliver exceptional results. Wide
and high-grade gold intercepts from shallow depths include:

34 metres at 3.42 g/t gold including:
• 9 metres at 7.00 g/t gold, and,
• 2 metres at 10.36 g/t gold in drill hole SKRC073.

31 metres at 2.63 g/t gold in drill hole SKRC051,

9 metres at 3.20 g/t gold, and,

9 metres at 3.12 g/t gold in drill hole SKRC052.

I sold my small parcel 5 months back, now I see doing very well; having further exploration success.

[IcedPaladin]

Trading Halt on the day before AGM. Surely not a capital raising

[brookvill]

SALT CREEK – BEST INTERCEPT TO DATE

The Board of Integra Mining Limited (Integra) is very pleased to report further drill intercepts from the Salt Creek gold discovery with the best intercept to date received from the Company’s 100% owned Randalls Project. This blind green-fields gold discovery is producing more big hits than Elvis. Drill hole SKRC103 returned an exceptional intercept of 40 metres grading 7.00 g/t gold from 74 metres which included a high grade zone of 14 metres grading 13.37 g/t gold from 83 metres.

Additionally, results have been received for one drill hole from the south-easternmost 80-metre step-out section which returned an intercept of 37 metres grading 4.59 g/t gold. With this result, gold mineralisation at Salt Creek has now been identified over 600 metres with drilling continuing to further define the overall strike extent of mineralisation. The Salt Creek discovery continues to deliver extraordinary results from shallow depths with recent results including:
. 40 metres at 7.00 g/t gold including,
• 14 metres at 13.37 g/t gold in drill hole SKRC103.
. 6 metres at 3.71 g/t gold and
. 37 metres at 4.59 g/t gold in drill hole SKRC107.
The sequence of strong gold intercepts from Salt Creek continues with drill hole SKRC103 returning the best intercept to date from this green-fields gold discovery of 40 metres grading 7.00 g/t gold from 74 metres which included a high grade zone of 14 metres grading 13.37 g/t gold from 83 metres. Drill hole SKRC103 was completed on the 24,920mN section, 40 metres north of a previously announced intercept of 62 metres at 2.38 g/t gold from 69 metres.
This previous intercept was the south-eastern limit of drill information at the time of the announcement and this new result demonstrates further continuity of mineralisation at the south-eastern end of drilling. The Company is also pleased to report it has received results from one hole completed on the
south-eastern-most step-out section 80 metres to the southeast of SKRC090. Drill hole SKRC107 has returned an intercept of 37 metres grading 4.59 g/t gold from 127 metres. This intercept extends the known strike extent of mineralisation to 600 metres. RC drilling is continuing on additional 80 metre step-out sections to identify further extensions to the Salt Creek gold mineralisation.

Cheers....Paul

[brookvill]

More info from my earlier post

This information is from another forum and posted by Kojasper.

We have to remember that this is a grass roots discovery, the best discovery this year and the parameters of how big it is aren't known. This latest hole 107 is a step out hole to 600 metres , another line out a further 80 metres has been drilled and assays pending , two further step outs for another 160 metres are plotted on the Release. Salt Creek is getting bigger every week. They have already marked the two further step outs and I am sure these will be drilled soon and the results released before Christmas.

Then of course we have that other significant discovery that has been made Reddale.

Drilling results for Reddale are pending, not to mention that collared hole drilling has commenced and drilling will continue here for the next six months if Salt Creek is anything to go by. Once again the python will swallow chickens and release them progressively over the next 6 months.

People should put the whole story together , not just read into "a single announcement"

What other story in Australia has read so well in the last 6 -12 months for discovery and move into production.

To add a little spice, Integra has also been presenting at the Mines and Money Conference in Frankfurt on Wed 28th November. Timely that this news should come out as it is creating a lot interest from lots of different circles from stock broking to funds management and now hopefully international investors. We have always known that the Germans are savvy investors and especially that the Canadians are savvy gold company investors.

Plenty of drilling happening and plenty of news to keep all the punters interested in Integra for the next couple of months.

I can’t believe that we are getting all this excitement and we haven’t even seen a single RC drill result out of Reddale. The potential is enormous and I can’t wait for the rest of the market and the overseas investors to wake up to the potential IGR has to offer.

[Revhead]

IGR has had a good run since September, running from 20 to 55c. For the past month it has been rock solid trading between 45 and 50ish.

It didn't escape the turmoil of the past few days, and anyone watching could have picked some up in the high 30's.

IGR has been releasing a steady supply of drilling results over the past few months. Check out the results for salt creek - more results are coming and they should be very good. Redale results are coming soon too!

I hold IGR

[Revhead]

Resource upgrade due any day, but probably coming next week. Good interest in IGR this morning so maybe those in the know getting set!

6 million cross trade (XTSP) thru a short while ago.

All good stuff!

[brookvill]

IGR Integra Mining

Market Cap $183m
366m shares on issue
$32m in cash
Estimate1.6 -1.7m oz resource @ above 3 grams a tonne (79% indicated previously, with recent drilling this is likely to be maintained or increased or 1.3m ozs ), an estimated 45-50% increase over previous estimate
Gold recoveries greater than 95% and Salt Creek as high as 99.5%
Situation is great with Kalgoorlie centre of the gold world
Not producing but in development, plant being dismantled in early 2008 in preparation for movement to production site and refurbishment
Good grades, all open pits less than 150 metres deep and most of Randalls are less than 75 metres deep shallow depth with good grades means low risk & higher margins.
The resource statement is due out shortly. The above figure is only an estimate.

Integra Mining is severely undervalued and it wont be long before the market latches onto it. With gold in the spotlight, it will be producers and quality developers that will be sought after. Gold is getting a lot more press and more so now that it has gone above the all time high of $875. Trading strongly at present time at $887.US which is A$1006.

We have tonnes of drilling in 2008 and the most exciting prospect would have to be Reddale. Management have been so excited about Reddale, they can't wait to hit the juicy part of the prospect. I think we will get the sort of news flow from Reddale that we have seen from Salt Creek in the past 6 months. Salt Creek is not done and dusted yet, we still don't know how big it is yet and they have the diamond drill rig on site now for further exploration at depth. So who knows who big it will get.

Price is starting to move today and the volume will improve as we get closer to the resource statement release date. Should be next week some time.

I think IGR is the most compelling GOLD story on the Aussie stock market. Before long, other people will make this realisation and we will get another lift.

[Revhead]

Good summary brookvill.

I particularly like IGR because there is so much more "potentially" to come. They haven't finished with Salt Creek yet and they have barely started on Reddale. The grades are excellent and close to surface.

Timing couldn't be better with gold crossing 890 earlier today. Gold is 889.30 right now!

That 32million in the bank is a result of a recent share placement. That's great too, because they have no need to go back to the market for more money in the near future.

IGR trading has been active over the past few days, no doubt due to the imminent release of the resource upgrade. Gold at 890 will be helping too.

Today's close at 55 (daily high), near all time high is very positive. A break up thru 56 tomorrow will be definitely on the cards. The nsiroc crossed today giving a buy signal.


http://i259.photobucket.com/albums/hh301/RevheadST/IGR_9Jan2008.gif

[Revhead]

Bolted out of the blocks at the open this morning, up 3c to 58 at the moment!

Hopefully the resource upgrade is released today.

[Revhead]

ASX Release
10 January 2008

38% INCREASE IN ALDISS-RANDALLS GOLD
RESOURCES TO 1.6 MILLION OUNCES

MAIDEN 250,000oz RESOURCE FOR SALT CREEK GOLD DISCOVERY

• Consolidated Mineral Resources at the Aldiss-Randalls Gold Project (WA)
increased by 450,000 ounces (38%) to 1.6Moz of gold at a grade of 2.8 g/t Au.

• Tonnage, grade and contained ounces have all increased significantly.

• Major changes include:

the addition of an initial Inferred Resources estimate of 2.8 million tonnes
at 2.7 g/t for 250,000 ounces of gold covering part of the recent Salt Creek
gold discovery,

a significant increase in both grade and contained ounces at the Maxwells
gold deposit to 2.4 million tonnes at 5.2 g/t for 410,000 ounces of gold, and,

the inclusion of an Inferred Resources estimate for the Fingals gold deposit
of 2.0 million tonnes at 2.0 g/t for 130,000 ounces of gold.

• Feasibility Study on new standalone gold mine development to be completed in
second half 2008.

• Dismantling and refurbishment of New Celebration mill to commence first
quarter 2008 in parallel with exploration targeting 2Moz resource base.

[Revhead]

I like this bit buried in the text of the ann:

"Integra has enjoyed some outstanding exploration success over the past 12 months with the recent discovery of the ‘blind’ Salt Creek gold deposit and is also aggressively pursuing a number of other regional discovery opportunities. Foremost among these discovery opportunities is the Red Dale Prospect, together with several other exciting discovery opportunities which continue to emerge.

These will be detailed in an Exploration Update to be released shortly."


More to come yet!!

[brookvill]

Hi Revhead
Apparantly Red Dale prospect is a lot larger than the recent Salt Creek find so plenty more to come in the way of good news over the coming months.

[Revhead]

Hi Revhead
Apparantly Red Dale prospect is a lot larger than the recent Salt Creek find so plenty more to come in the way of good news over the coming months.

Absolutely! The main driver in the share price rise since September has been Salt Creek. They have barely touched the surface of Red Dale. They have a lot of other ground to drill as well.

Integra is one of the most promising up and coming producers around. While it still an explorer, I guess, it seems it should be categorised as the next step up.

What an impressive close! There were plenty of sellers after the announcement, but they were quietly accumulated. 59.5 was practically the high of the day and a clear break above 56c.


http://i259.photobucket.com/albums/hh301/RevheadST/IGR_10Jan2008.gif

[Revhead]

From the West Australian newspaper. http://www.thewest.com.au/default.aspx?MenuID=32&ContentID=54009

Integra leaps on resource upgrade as gold price hovers near highs
11th January 2008, 9:00 WST



Integra Mining has made the most of a soaring gold price, revealing a 38 per cent increase in resources at its Kalgoorlie project that propelled its share price to a record high.

The explorer’s shares soared 4.5¢, or more than 8 per cent, to 59.5¢ yesterday as investors applauded news that Integra’s resource base at the flagship Aldiss-Randalls project had increased by 450,000 ounces to 1.6 million ounces.

Aldiss-Randalls’ 18 million tonne resource grades an average 2.8 grams per tonne.

Integra managing director Chris Cairns described the resource upgrade as “magnificent”.

The upgrade takes Integra a significant step towards its year-end goal of a two million ounce resource at Aldiss-Randalls, which the explorer hopes will translate into a million ounce reserve and sufficient for a substantial open pit operation. Integra is yet to report a maiden reserve figure.

Integra’s soaring share price coincides with gold price trading close to 30-year highs. Gold was trading at $US876.13/oz last night, the highest level since 1980, while the Australiandenominated price broke through $1000/oz for the first time on Wednesday. Australian gold eased back to $990.36/oz last night.

Analysts have tipped gold to be one of the standout metals this year on the back of global economic uncertainties. A soaring bullion price this year could propel Australia’s emerging gold sector in the same way its iron ore and, to a lesser extent, uranium peers fared last year. It is also likely to trigger a fresh wave of takeovers in the gold sector as the major producers look for acquisitions to replenish their mined reserves.

Integra is planning to finish a feasibility study by September which it hopes will underline the viability of a standalone operation at Aldiss-Randalls.

The backbone of yesterday’s resource upgrade was an initial 250,000oz resource for the Salt Creek discovery, part of the Aldiss-Randalls project and the focus of most of Integra’s recent drilling efforts.

PETER KLINGER

[Revhead]

Closed above yesterdays breakout point! I would expect a bit of consolidation at this level before IGR pushes upwards. IGR has quadrupled in price since September or thereabouts and plenty of holders will be considering taking their profits. It would have been good to see a bit more volume traded.

Actually, I think IGR would have closed above 60c were it not for the general softening of the asx in the latter part of this afternoon. Most of my stocks that were green midday went red towards the end of the session. (ARE was a notable exception and held up well all day. There were plenty of buyers taking anything offered in the low 50's).

Lot's more coming from IGR in the short term, with Red Dale results expected.


http://i259.photobucket.com/albums/hh301/RevheadST/IGR_11Jan2008.gif

[brookvill]

In a trading halt until Tuesday morning now. TH is due to the release of drill results.
There is a rumour going about that the results could be outstanding and will lead to a re-rating of IGR, but it is only a rumour!!!!...could explain the lift in trading a couple of days ago????...With Gold on the way back above $us1000 a really great time to announce some good news. Good luck to all holders

[Revhead]

In a trading halt until Tuesday morning now. TH is due to the release of drill results.


IGR regularly go into trading halt pending the release of drill results - so nothing unusual there. And sometimes the results are a bit ordinary.

Nevertheless, IGR has ridden the recent sharemarket weakness well, and at 55c is trading in it's upper range. Good demand in the last few trading days, so hopefully we will get some really good news this time!

Continue to hold!

[Revhead]

IGR regularly go into trading halt pending the release of drill results - so nothing unusual there. And sometimes the results are a bit ordinary.



While the 10 ounce bonanza grade intercept makes a good headline, it is not going to set IGR on fire. It is from an infill hole, so the grade is an exception to the grades returned earlier. But still good value and it is at a very shallow depth (4m from 6m depth).

The ann adds this qualifying statement.
"Note of Caution: This bonanza intercept was recorded in an RC hole from 3 to 13 metres. The quality of sampling of the first 10 metres of an RC hole can sometimes be poor. The samples were recorded as being weathered and may be subject to supergene or preferential enrichment. While the assay results display surprisingly good repeatability, Integra is currently conducting check work to determine the veracity of this intercept."

I wish IGR would stop going into trading halts for these sort of routine drilling results. They don't do themselves any favours by acting like drama queens!

More results are expected this week:
"Integra has been receiving a large volume of assay results from RC drilling at the Salt Creek gold deposit which are being compiled and are expected to be released this week. These results, in conjunction with a growing collection of drill core from ongoing diamond drilling since prior to the Christmas break, is resulting in an increased understanding of the Salt Creek gold deposit and this knowledge is creating further exciting opportunities and drilling targets."

[Revhead]

Close at all time high today!

More announcements coming so I expect to see IGR moving upwards - depending on the DOW.

IGR has held up fairly well despite the turmoil over the past couple of months or so, as can be seen in the chart below. Provided a couple of good entry points in the mid 30's to those with balls and cash.

cheers

http://i259.photobucket.com/albums/hh301/RevheadST/IGR_26Mar2008.gif

[Revhead]

Excellent buying demand today pushing the price over 68c and share price closed at all time high point of 66c. Over the past couple of weeks selling pressure has kept the price down, but none of that seen today. Those wanting in had to step up!

Been two notable announcements lately. JP Morgan takes a 5.07% stake - 19.1 million shares.

and,

Announced today; Integra aquires additional tenaments in the Mt Monger area.

[brookvill]

Went to th Melbourne presentation the other evening. About 50-60 turned up to hear Chris.
I very impressed with Chris Cairns - man seems like the exact person you want steering this company. He gave me a very strong impression that the company's main agenda is to find out how big salt creek and surrounds are and the rush to production shouldn't be the be all and end all to share holders at this stage. He wants to continue the drilling because the edges of exploration are not yet defined, and this will continue till the end of the year,when the feasibility study will be published. My feeling is that he probably thinks we will be taken over before the first gold bar is poured. I hope this does not happen as the full potential is only starting to take shape. They are also extremely exited about the drill sample from depth at salt creek as the sample shows that there is the exact stuff (rock type)at depth that is conducive to finding gold. My impression was that as a geologist he couldn't be happier. Reddale is still on track, Chris explained that at salt creek they were lucky to hit an intercept on the 5th hole drilled, but normally it takes quite a bit longer, at reddale they have only had 3 drill results come in and it may be that in the next few weeks/months we will start getting positive hits. The other satellite finds ie lucky bay, Mohegan, salt creek sth and nth all seem to be getting them all at IGR very excited. S.A.- Barrick have reached 900 mtrs and still not hit rock and are therefor without any result. It is my thought that IGR are hoping to find significantly more in the salt creek region and position ourselves as a company that will cause a bigger company to have to pay big money to take us over. I believe the drill sample at depth is whats driving the share price at present, so it will be an interesting wait for the results. The above is only my observations from the meeting so do your own research.

[Jess9]

Why is this one so un-loved? Reading over the thread and looking at their web site, looks like a bargain - if you like the gold story. However, with the current steep down trend it may be more of a bargain next week...I would be very interested to hear thoughts, if any of you above posters still hold?

[macduffy]

A long time since anyone posted on IGR.

Meanwhile, prospects of mining in first half of 2010 are looking good and some excellent drill results released today from the Salt Creek deposit.

Disc: Holding a small parcel.

[macduffy]

IGR in a trading halt.

Announcement pending re capital raising.

Hopefully it will include financing proposals for the Aldiss-Randalls Gold Project.

;)

[macduffy]

IGR have announced a placement to instos etc at 25c.

Not a nice way to treat its shareholders!

:mad:

[Jess9]

My guess is it will open a lot higher and you wont care shortly. 25c is very reasonable as long as the funds are for targeted work where the market see good returns... e.g. resource upgrades or move to production (and not "working capital"). Best of luck.

[macduffy]

Yes, a very reasonable price for those lucky enough to get in on the placement.

IGR traded down 5% to 28c on trading resuming today. We now await some plans for getting into production.

[Dr_Who]

Any valuation or research report on this pup?

I wanna do some reading on it. :)

[macduffy]

I havn't seen any brokers' reports, doc, but here's a link to a recent presentation by the company.

http://www.asx.com.au/asxpdf/20090921/pdf/31ktx5hwly3pg1.pdf

[macduffy]

Speculation that Integra will today announce a doubling of planned production from its Randalls project.

http://www.theaustralian.news.com.au/business/story/0,28124,26278035-5005200,00.html

[DTB]

Anyone still following this one? Some posts on HC suggesting that UBS and Pala are accumulating together. Increases in volume and no change in price. Wondering if I should sell my IRN and get some more of this...

How do the big boys accumulate without increasing the price, as was the case last week with irn? Too me it sounds like they are getting enough to attempt a t/o.

[macduffy]

I don't know whether they are working together but UBS and Pala have recently increased their holdings, UBS from 10.3% to 15.5% and Pala from 5% to 10%.

There's been a lot of scrip around recently from the SPP ( up to $15,000 @ 25c) so it's not surprising that accumulation has been possible without pushing up the SP.

I took up my entitlement.

;)

[macduffy]

The Randalls project has the go-ahead!

IGR reckon they are in line to be second most profitable Aust domestic gold miner after Newcrest. Here's hoping!

http://asx.com.au/asxpdf/20091230/pdf/31mzrs6whr6lf5.pdf

:cool:

[macduffy]

A recent AFR article apparently suggested that Pala is trying to get IGR and Avoca to co-operate in their WA eastern goldfields interests rather than have IGR spend big money (which it has now raised) on plant for the Randalls project.

Has anybody read this article or able to comment?

[Dr_Who]

Interesting Acorn capital is in this stock. ;)

[macduffy]

Integra up 1.5% in a soggy market today on news of further "excellent" drilling results from the Majestic prospect.

First gold production from the Randalls project still expected on time in September.

http://www.asx.com.au/asxpdf/20100706/pdf/31r60356r7hctx.pdf

Disc: Holding a few.

[macduffy]

And getting good publicity from the SMH following the last announcement.

http://news.smh.com.au/breaking-news-business/was-junior-gold-miners-plan-to-soar-20100707-100j3.html

[Brut]

Hi macduffy, IGR doesn't seem to be on anyones radar on S/T but is one of my better performing stocks on the ASX this year.

Disc. Holding heaps

[macduffy]

Up another 4.8% today.

I've been adding a few in expectation (hope?) that interest will grow as first production in September draws closer. Seems to be working so far!

[lewinsky]

Hi McD,

I am another who has been quietly adding a few to my portfolio.

The presentation they made the other day is worth a read.

Cheers

LEW

[macduffy]

Hit a 12 month high today of 36c in a down market.

Roll on September!

[COLIN]

Hit a 12 month high today of 36c in a down market.

Roll on September!

Yes, I like it. Bought some a few days ago, after dithering for too long. OBV great, and as long as buyers outweigh sellers by a significant margin I will ignore some other indicators which seem to be signalling a possible overbought situation.

[macduffy]

IGR edging up - 41c today - as first gold production draws closer and the PoG firms.

I hold.

[macduffy]

More good news from IGR - they're pretty adept at keeping the news flowing!

Majestic gold discovery extended by 80m. Looking promising for a further open pit.

http://asx.com.au/asxpdf/20100820/pdf/31s08fdgk43rkk.pdf

I hold.

[macduffy]

.... and the SP up another 2c!

(Not that there's many here seem to be interested?)

[SPARKY]

Hi MacD
I hold also, bt @15 (heaps)saw them go to 60..70ish quit most at 27 ish on way down, saw them down at 10 at one stage and am increasing holding now, hoping to see them back at 60 plus soon.

[macduffy]

Hi, Sparky.

You've certainly had an exciting ride with IGR.

I hold at an average of about 21c. Current intention is to sell at least half on any retracement once Randalls is in production. I continue to like their prospects but like to take profits from the riskier side of my portfolio before they evaporate!

Cheers

[macduffy]

More good news from IGR with talk of another potential underground mine within the Randalls Project.

http://www.asx.com.au/asxpdf/20100824/pdf/31s2g01y9pxzt2.pdf

IGR's SP took a bit of a hit yesterday so it will be interesting to see whether this announcement provokes some recovery. If not, I may pull the trigger on part of my holding.

[macduffy]

IGR up today on news that it has farmed-in to tenements adjoining the Aldiss area.

I'm still holding, news of first production from Randalls is (hopefully) imminent!

[macduffy]

IGR up today on news that it has farmed-in to tenements adjoining the Aldiss area.

I'm still holding, news of first production from Randalls is (hopefully) imminent!

Having a nice run here.

IGR up 8% today to 47c.

Anyone else interested?

[Brut]

Having a nice run here.

IGR up 8% today to 47c.

Anyone else interested?

You are not talking to yourself macduffy, I loaded up on these when they were in the 20's & thought about taking some profit recently but decided to hold until at least Xmas. This stock keeps getting better every day,,,

[macduffy]

Hi Brut.

I'm not putting any timelines on my holding but happy to hold while the trend continues. Still inclined to half expect a "sell the fact" selldown once the gold actually starts to flow and if so will lighten up a bit.

Trust you weren't too badly affected by the big quake!

Cheers

[macduffy]

IGR hit the 50c mark today.

Hanging in there!

[macduffy]

Up another 6% today.

More good drill results and first gold production from Randalls is "imminent"!

[macduffy]

Integra pours first gold from Randalls!

http://www.asx.com.au/asxpdf/20100927/pdf/31sqrbrqf0j80j.pdf

Now to see what the SP does. Will it be a case of "Sell the Fact"?

[macduffy]

From FN Arena.

IGR - INTEGRA MINING LIMITED
RBS Australia rates IGR as Buy (1) - When RBS initiated coverage on junior gold company Integra Mining last month, the analysts commented the company's Randalls gold project was scheduled to be commissioned in the September quarter. Well, Integra has now managed to pour its first gold on Friday. RBS analysts have responded by adding 10c to their price target; 60c versus 50c last month.
The analysts are clearly keen supporters of the stock, suggesting the company's main project is travelling well and further exploration successes should be expected. To throw in a few financial metrics: Integra has budgeted production of 90koz in the first 12 months and the analysts point out the first phase cash costs are running at A$574/oz. Integra also has hedged 91,952oz at A$1,359/oz.

At that gold price, note the analysts, the A$45m debt would be repaid within eight months, leaving but blue sky for the company after that. Buy rating retained.

Assuming everything goes as planned, this company should be starting to make some serious profits from here onwards.

Target price is $0.60 Current Price is $0.54 Difference: $0.06 If IGR meets the RBS Australia target it will return approximately 11% (excluding dividends, fees and charges).

The company's fiscal year ends in June. RBS Australia forecasts a full year FY10 dividend of 0.00 cents and EPS of minus 0.56 cents .

At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 96.43.

Market Sentiment: 1.0

[modandm]

in my view this stock is looking pretty fully priced right now. When I look at goldies im looking for company's which market cap = NPV of their primary operation, and which hold considerable optionality through further exploration. This seems pretty demanding but not 3 months ago there were a number of outfits that fit this criteria IGR being one of them. Right now IGR SP is factoring in the success of new projects which makes it far more risky. As for RBS research the fact that they value it at 60c is a confirmeation fo my view that it is fully priced. If they had valued it at $1 then different story.

Consgratualations anyway to successfull holders

[elZorro]

in my view this stock is looking pretty fully priced right now. When I look at goldies im looking for company's which market cap = NPV of their primary operation, and which hold considerable optionality through further exploration. This seems pretty demanding but not 3 months ago there were a number of outfits that fit this criteria IGR being one of them. Right now IGR SP is factoring in the success of new projects which makes it far more risky. As for RBS research the fact that they value it at 60c is a confirmeation fo my view that it is fully priced. If they had valued it at $1 then different story.

Consgratualations anyway to successfull holders

Hi Modandm, it seems to be going for it today though, and there are lots of goldminers with ramping prices that wouldn't meet your criteria. That's because the NTA figures are only updated infrequently, and the timeline to production can be 5 years. By that stage the explorer has had a many-fold increase in Mcap, going from a few million to a few hundred million, maybe in the billions.

[COLIN]

Hi Modandm, it seems to be going for it today though, and there are lots of goldminers with ramping prices that wouldn't meet your criteria. That's because the NTA figures are only updated infrequently, and the timeline to production can be 5 years. By that stage the explorer has had a many-fold increase in Mcap, going from a few million to a few hundred million, maybe in the billions.

Well, the market seems to be ignoring the RBS "value" - which is the right thing to do. I have been ignoring all so-called analysts' "target prices" for years.

As Phaedrus would say, "The Market Rules, O.K!"

[Jess9]

a good steady run to date. Watched only since early 30's. Bugger.

[macduffy]

a good steady run to date. Watched only since early 30's. Bugger.

Yes, IGR still going well - which surprises me a little as I thought a pull-back was on the cards once the long awaited production from Randalls actually commenced! I guess the PoG was strong enough to forestall that.

No complaints. I'll hang on until it does lose momentum.

My own personal "bugger" is that I watched RMS climb from 40c without acting. Can't win em all, Jess!

[macduffy]

From FN Arena

"IGR - INTEGRA MINING LIMITED
RBS Australia rates IGR as Buy (1) - Target $0.64 (was $0.60). The company reported a full year loss but the broker sees this as irrelevant as first gold has been poured and the resource base at the Randalls gold project is set to be upgraded.
Exploration should help in this regard and so the broker sees scope for positive news flow from the company in coming months. Post the result the broker retains its Buy rating with a slightly higher price target.

Target price is $0.64 Current Price is $0.59 Difference: $0.055 If IGR meets the RBS Australia target it will return approximately 9% (excluding dividends, fees and charges).

The company's fiscal year ends in June. RBS Australia forecasts a full year FY11 dividend of 0.00 cents and EPS of 1.50 cents .

At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 39.00.

Market Sentiment: 1.0

"

I'm holding while the trend continues!

[COLIN]

I'm holding while the trend continues!

Same, here.

[macduffy]

I took my profit on IGR today as they dropped against a still firm PoG.

Probably premature but I always expected a pull back once Randalls was in production and this is my excuse to sell.

At least, Skol will be proud of me!

[COLIN]

I took my profit on IGR today as they dropped against a still firm PoG.

Probably premature but I always expected a pull back once Randalls was in production and this is my excuse to sell.

At least, Skol will be proud of me!

Have been mulling over this pullback myself, McD, but then their annual report arrived in the mail and I got all excited again (I must remind myself that I am more of a TA investor these days than an FA, but I can't help it if I revert to some old habits from time to time!)

[COLIN]

Have been mulling over this pullback myself, McD, but then their annual report arrived in the mail and I got all excited again (I must remind myself that I am more of a TA investor these days than an FA, but I can't help it if I revert to some old habits from time to time!)

Today's Majestic update seems to have breathed a bit of new life into IGR.

[lewinsky]

IGR is climbing along really well after taking a breather.

I am unsure as to what is the real driver here, but very happy to see it breakout to new highs.

I can't help but think if SKOL'S 2011 picks will be IGR, RMS,OGC, GDO and AAR?

[COLIN]

IGR is climbing along really well after taking a breather.

I am unsure as to what is the real driver here, but very happy to see it breakout to new highs.

I can't help but think if SKOL'S 2011 picks will be IGR, RMS,OGC, GDO and AAR?

I'm also glad, Lew, to be enjoying the fruits of sticking with IGR through the little hiatus.

As to Skol's likely picks for 2011, you could well be right! Chuckle, chuckle!!

[COLIN]

Something's tickled the fancy of the IGR punters this afternoon, with a sudden spurt on a generally lack-lustre day in the overall minerals investment department.

[brookvill]

Market action is telling us there is something going on. Almost 20 million shares gone for the day
Gold production must be on track. If it wasn't, the market being the market, word would have leaked out.
There is a lot of chatter about that the exploration results are going to be outstanding and are due to be released before Xmas, so maybe Monday we will have some idea as to why the sudden surge in buying interest. The recent Majestic discovery could turn out to be much bigger and richer than expected.
Also awaiting a resource upgrade. Speculation is that there will be a significant upgrade in resource from the current base

[gonzo56]

Should be a short term correction any day now.. RSI below 20, and just about to hit the bottom Bollinger.

[macduffy]

I asume that's a short term correction up?

IGR's in the middle of a $40m placement at 48c which has, predictably, knocked its SP down to around that level. But it's up a bit today so perhaps the correction has started already.

Disc: Not holding at present but may be tempted back in !

[gonzo56]

That's the one. It hasn't quite hit the bottom band yet, which looks to be about 48c. The last time it did, it jumped around 15% in two days.

[gonzo56]

Did you get in at 49c the other day Macduffy?
I'll be following the RSI indicator to see whether it hits the brakes at 60c or not.

[macduffy]

Did you get in at 49c the other day Macduffy?
I'll be following the RSI indicator to see whether it hits the brakes at 60c or not.

No, too cautious for that, gonzo!

But I'm back in at 52c. I reckon there's a few more runs in gold yet.

[brookvill]

Will be added to the S/P ASX 200 All Australian Index, another step in the right direction. The difference between the ASX 200 and the 'All Australian' Index is that it comprises stocks on the ASX that are domiciled in Australia only. Check out the IGR website for full details

[macduffy]

Commercial production declared at Randalls!

http://www.asx.com.au/asxpdf/20110406/pdf/41xwmmm4s00tf1.pdf

[brookvill]

Process Facility Upgrade

http://www.integramining.com.au/Portals/0/docs/ASX/ASX%20Release%20110815_Process%20Facility%20Upgrad e.pdf

[COLIN]

Refer recent comments on "NST" thread.

[macduffy]

Silver Lake Resources - SLR - proposing to merge/take over IGR on the basis of 1 SLR for 6.28 IGR. Implied value of 45.2c for IGR shares, 44% premium on last sale.

My guess is that this will get the ok.