IGR - Integra Mining

[Buckfont]

I bought in at 25c and remember at the time thinking to increase the holding but didnt much to my minor disappointment now.. But what i have is sitting at 156% so im not complaining too much

Good one frankie_boy. I`ve had a smile on my face since i bought in in late march. IGR flatlined for almost a year between Jun 09 and Jun this year in the 20-30c range. Then it took off four months ago and doesnt look like slowing down. Have taken profits in the meantime. I stuck my neck out to great benefit.

I believe the tenements are very solid. The presentation yesterday was very encouraging and I look forward to more production from their other holdings in Majestic, Cockeye Bob etc. Hope you`ve done as well as me f_b. Now have the funds to wave mortgage byebye and still hold. Best of luck.

 

[roland]

I think that IGR have much further to run. I originally got in at 29c and have been in and out 3 times.

My current entry was at the last break out at 54c and will hold until it hits my trailing stop loss.

IGR have some very impressive drilling samples and have an $800 margin between extraction costs and resale value.

All up looking very positive

 

[noie]

Such a wasted opportunity by my good self.

Looked at it around the 25 cent mark a few months ago - hoping to get onboard up to the runup to gold production ann.

Ahh well...live and learn. Nice story here - how's that hedging going?

Forgive my question, but where is the wasted opportunity?.

Sure these guys have risen over 100% in 3 months but the first bars from their new mine (Randalls) are still cooling off, with 800/oz (AU) in profits at current prices this is in Phase 1 of a multi phase process
(Maxwells, ****-Eyed Bob, Santa and Majestic still to go.) (last project was early and under budget)

Should provide a substantial resource upgrade due later this year.
and where is gold headed?

Edit: Roland is a faster typer than me!!

 

[roland]

Forgive my question, but where is the wasted opportunity?.

Sure these guys have risen over 100% in 3 months but the first bars from their new mine (Randalls) are still cooling off, with 800/oz (AU) in profits at current prices this is in Phase 1 of a multi phase process
(Maxwells, ****-Eyed Bob, Santa and Majestic still to go.) (last project was early and under budget)

Should provide a substantial resource upgrade due later this year.
and where is gold headed?

I agree, the increasing volume in the last couple of days shows that there are plenty that think the price is right and the company is going in the right direction. Apart from a first gold pour IGR is not even in production yet.

 

[fatmango]

With production to come how high can this stock go? I bought a very small parcel at 29c. Should I sell part of or sit and wait. Any suggestions?

 

[oldblue]

With production to come how high can this stock go? I bought a very small parcel at 29c. Should I sell part of or sit and wait. Any suggestions?

Hi fatmango.

It's against forum rules to give advice but for what it's worth here's my take on IGR.

I hold two parcels, one as a medium term play because I like their prospects over the next 2-3 years and one for short term (hopefully) profit.
This latter parcel I'm holding on a fairly loose trailing stop loss to preserve most of the profit which it's showing from an entry price of 25c.

In the event that fortunes turn against IGR the short term parcel will be the first to go. I'd then have to re-assess what happens to the other parcel in the light of the new circumstances/information.

 

[roland]

Looks like a whole heap of stop losses were hit, not sure why the weakness - didn't hear what happened to POG over night.

Nice recovery though

 

[dandyjac]

I Am a holder of IGR & have followed this stock for quite a few years, Since the companys first gold poor this stock has had a good run up and you have to expect a bit of a pull back as punters are taking a bit of profit of the table, I am happy to hold as I feel this company has good operators at the helm

 

[fatmango]

Sorry about breaking the rules. Thanks for your thoughts. Learning as I go!

 

[mr. jeff]

ASX RELEASE 4th November 2010
FOUR MORE HIGH-GRADE GOLD
ZONES DISCOVERED AT MAJESTIC
Plus drilling extends strike length of discovery zone by 120m

FYI all Integra people.

Looks good. Have a look at the release today.

This biotite and silica / sericite alteration is often spatially associated with feldspar porphyry dykes, indicative of a large scale structurally modified / upgraded intrusive-related gold mineralised system.
Gold mineralisation at the Majestic ‘discovery’ zone remains open along strike in both directions and at depth.
The Majestic area is shaping up as a gold mineralised system of significant scale and remains at the early stages of exploration evaluation.

It's the feldspar porphyry dykes that do it for me. ha.
Actually the results are average grades, nothing to jump out of your skin about, but a lot of them, really quite promising.
The stock is up 8.4% today on this news, may even break the back of the sell off that has been occurring....

 

[fatmango]

Integra Mining

No sooner does the price rise than it falls back again. Can anyone enlighten me as to the reasons behind this variability - or is this normal for a stock such as Integra?

 

[oldblue]

Re: Integra Mining

No sooner does the price rise than it falls back again. Can anyone enlighten me as to the reasons behind this variability - or is this normal for a stock such as Integra?

There are probably many reasons.

It's a gold miner!

There's a lot of shares on issue.

It's a favourite "trading" stock with a lot of holders in and out for a quick profit.

But most of all, like all the goldies, its SP gets pulled around by the Price of Gold and speculation relating thereto.

Disc: I hold a few but admit to having taken profits in recent weeks.

 

[mr. jeff]

For my 2c ; I think Integra has been run up a fair bit in the last 6 months, I would say that a lot of people have decided to lock in a decent profit and not risk the fall of the gold price.
Also as Integra is beginning production it is maybe theoretically less attractive as a fast runner? A lot of the goldies have really stopped moving up (with the odd exception of course) and are just going sideways.

Today, your Company continues the ramping up to steady state production, the initial
target being 90,000 ozs per year. Steady state production is expected to be achieved
in the current quarter at a cash cost which should ensure that Integra will be one of
the Australian gold industry`s lowest cash cost producers.

from ann. Wed 10/11/10

Integra is a good story I believe and not a bad early stages producer to have a chunk of, however, there is that risk that their production may have teething issues, although seems to be good so far. It may not be an equal comparison, but as they are still reliably drilling resource extensions and now they are able to back up their exploration with production, which makes the risk lower in buying their stock - a comparison with SLR may be worthwhile, where SLR went into production with good facilities and good ground, and a very successful production year supporting a successful drilling program made them run quite hard, but as the gold rush this year has slowed, so too have the sp's...
It is a concern now that if the gold price eases, gold stocks may come back more yet. Perhaps this is the issue. There is of course the upside that if the US starts putting out better economic figures then their dollar may recover and help out the gold miners.
Has anyone here got a good s/s on gold production cost $ / oz comparison which reflects recent figures for the smaller miners?

 

[johannlo]

Mr. jeff,

SLR is A$658 per ounce from last quarterly.

another comparison, AXM (total dog IMO lol) is around $800 from memory, but their costs have been all over the shop whereas SLR is much more proven/stable.

 

[mr. jeff]

Mr. jeff,

SLR is A$658 per ounce from last quarterly.

another comparison, AXM (total dog IMO lol) is around $800 from memory, but their costs have been all over the shop whereas SLR is much more proven/stable.

Cheers for that, well looking at IGR they estimate (and I guess we won't really know until at least 2 quarters have gone for production figures) that their costs are $574/oz.

That is pretty decent. I would note that they are pulling up from their open pit 3g / t. That seems to be a decent grade for an open pit, so hopefully this stays at this level for a while.

 

[fatmango]

Integra Mining

From mvoing along quite nicely to around 70c and then.......50c in no time at all....anyone have a reason for this? Integra has been a fluctuating stock but this is quite a fall is it not?

 

[indeck]

I had been preparing to buy IGR until it started it's downward trend. The catalyst seemed to have been a major shareholder reducing below 5%

 

[oldblue]

The bigger factors IMO are the drop in the PoG recently and what the market sees as a slightly disappointing resource upgrade from IGR. An excuse to sell and take profits in volatile times!

 

[frankie_boy]

Am still holding some of my IGR after taking a a fairly good profit, but been on the decline since.. Would of thought with the PoG it be staying fairly strong.. am i missing something somewhere?

 

[mr. jeff]

Am still holding some of my IGR after taking a a fairly good profit, but been on the decline since.. Would of thought with the PoG it be staying fairly strong.. am i missing something somewhere?

Frankie I would recommend having a look at CAH thread where I asked the same thing, ie. what the? I like the fundamentals of these sized goldie's but just like all fundamental vs. technical arguments, why put your money into something that is not going up even if it is worth more (especially with no dividend). RMS being the exception...dividend and good px. IGR offers an attractive buy, when it is on the run again.

Would help if they bought some ground in Mongolia maybe.