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No I didn't take up on Musgrave either. Most other shares, including IGR were down so no ready cash. Looks like some prospects as I have a lot of respect for the IGO team & the technology they use as well as IGR. I know that one of the tipsheets was recommending people to buy in the float, reads like there was good demand for it.


IGR production of approx. 7,000 oz per month clearing approx. $900 after cash costs = about $6.3 million per month or $72 m per year. Debt should disappear quickly, funding available for drilling & upgrade to plant. If gold heads north and AUD eventually goes south as some are predicting then should lead to a jump in many resource stocks. Fingers crossed

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Integra Mining (IGR) has been mentioned in The Age this morning...




Amid the sandalwood trees east of Kalgoorlie, Chris Cairns can hardly believe his luck.


In the six years since his company, Integra Mining, acquired the ''Randalls'' deposit, the international spot price for gold has risen by close to


350 per cent.


In the seven months since first gold was poured at the site in September, the price has leapt 17 per cent.


By Thursday, the gold price had enjoyed eight record highs against the US dollar in the space of nine trading days, adding yet more cream to the cake for miners like Integra.


''We like to take credit for a lot of things, but we can't take credit for the timing of the project ? had we tried to plan it any better I don't think we could have,'' Mr Cairns joked.


When the price pushed above $US1500 an ounce shortly before Easter, Mr Cairns was able to contemplate the sort of cash operating margins that were once unthinkable.


''I've been in gold for about 20 years and in the old days if you had a $200-per-ounce margin you were pretty pleased, so (close to) $1000 per ounce is just unprecedented,'' he said.




Read more: http://www.theage.com.au/business/gold-shi...l#ixzz1KxENIf3g

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