IGR - Integra Mining

[Trade4Us]

Hi, I am completely new to not only this forum but to trading as well! We bought our first ever shares in May last year and they were Integra Shares for 0.24c each just before they peaked and then dropped significantly and have obviously been at loss ever since. I have read stacks of reports etc about Integra and hold some hope that in the future they will pick up, I'm actually quite confident that they will eventually do quite well to the point that I have considered purchasing some more. We only hold 8000 so we're not talking big dollars. Is this a bad mistake? We're just dipping our toes into this big thing called "trading" and really have no idea.
I would appreciate anyone's opinions??

 

[Nifty49]

I hold IGR and have for some time.

The SP is now in an upwards trend. Directors have been buying. Directors believe market has under estimated gold resource at Salt Creek.

I put a bid in at 17 and missed out. IMO 19 is still a good buy providing POG remains stable.

Nifty

 

[Trade4Us]

Thanks Nifty, I'll hold on to them and see what happens. Still unsure about purchasing more, knowing my luck I'll probably miss the boat, but hey if that's the case, it wasn't meant to be!

Cheers
Trad4Us

 

[wintermute]

good attitude trade4us Most of the mistakes I have made have been when I have bought because I'm afraid of missing the boat!

I've been looking back at IGR and in hindsight wish I'd bought some at 12c before when I first looked... 20/20 hindsight is a wonderful thing Haven't really been following them of late, but was thinking of having another look due to declining US $ and I'd like some gold exposure.

If you have some spare cash, but only have one share in your portfolio, I'd be looking at getting something else, the old "don't put all your eggs in one basket" story. I'd also suggest maybe looking at something a little less speculative. The risk/reward ratio is high on speccies, but it can give you unrealistic expectations, or frightening losses if you get lucky/unlucky first up. But that's just my conservative oppinion

Personally I have chosen to, and on other occaisions not to average down. Usually on the occasions when I didn't I should have, and when I did, I shouldn't have the problem is it is difficult to know when you have hit the bottom... sentiment is a funny thing. All I will say is that you need to be VERY confident (ie have done a heap of research) if you are going to average down, there are stocks that just keep going down forever. Not saying this is the case with IGR, but if you are not 100% certain (and even when you are there are always things out of left field to catch you out) about the wiseness of doing so, then it is probably better not to. Just the case of it is now much cheaper is not a good enough reason in itself, though in my early days I was guilty of this.

Tony.

 

[Trade4Us]

Thanks very much Tony, I really appreciate your advice. We would really like to invest a little somewhere else, but to be honest, the only reason we don't is because we have no idea where!! The only reason we invested in Integra is because we were somewhat encouraged by a family member and thought we would give it a go. Any advice on best place to seek out other possible investment options that don't require massive amounts of equity!?

 

[wintermute]

Hi Tradeforus, firstly please don't take this as advice, as only registered financial advisers are able to offer advise, it is my personal oppinion, and no doubt differs to others! I tend to be a bit left of field with my investing decisions, but that is just what I have found works for me.

The most important thing in my oppinion, is once you have decided on a stock of interest is to do lots of research. Read the annual report (or at least parts of it, and try and read between the lines) look at recent announcements, check the companies website, look at a graph of the shareprice over the last 6 months, and also longer timeframes like 2 years or 5 years to see if you can tell which way the price has been heading.. you don't need to get into the nitty gritty of technical analysis, just eyeballing the chart will give you a good idea of whether the price is heading up down or sideways.

another option might be to have a look at some managed funds. I have roughly half of my money in managed funds, and at the moment the funds are doing better, mainly because my initial sharemarket investing, was perhaps not as well thought out as what it should have been Check out sites like investorweb, commsec or morningstar for ratings on funds... I chose 4 and 5 star rated funds and they have done very well.

Another thing I would suggest is sign up at www.investsmart.com.au (you will receive quite a bit of advertising of ipo's but at your stage I wouldn't pay too much attention to them) and set up a paper portfolio, use actual prices and volumes you could have bought on market, and monitor the performance over time. It will let you see whether you would have made good or bad decisions without laying out any money.

You can browse through aussiestocks and look at some of the stocks being discussed, and it might help to narrow down some things to concentrate on.

Above all, you need to work out your risk tolerance! How much money are you willing to lose! how will you ensure you don't lose more than that if things don't go as planned?

I know this probably hasn't answered your question, but hopefully it gives you some stuff to think about

Tony.

 

[Trade4Us]

This is brilliant Tony, greatly appreciated! I'm after information as to where I can look for more info and you have certainly given me that! Thanks very much!

Good luck!!

 

[pb112]

Trading halt
If its drill results that are spectacular it could be a great week coming up.As the SP starts to break out over the 30c barrier more of the short term traders might start to position trade instead of intra day or 1-2 day trades which should also help the momentum I feel. The following is from another forum.

I'm a long term investor and have been with IGR for nearly 4yrs now and like everyone feels the progress has been slow but now the hard work from CC and the company is really building momentum.On top of that like a number of you have been saying,the company is materially undervalued and now the SP is playing catch up.And its about time,but all good things to those with patience(which has been tested at times!)

Now as far as this trading halt is concerned its got me thinking like everyone.A number of people have alluded to a Cap Raising and I guess thats possible but then again they just announced an issue of shares to be ratified at the AGM(Nov 9)which is for funding on-going exploration,feasibility studies,relocating the plant and other working capital needs.
Kojasper from another forum seems to be confident that its not this,but something else and maybe he's right.Firstly the SP action yesterday indicated a willingness later in the afternoon to bid up the SP.Normally with a Cap raising you get some big sellers like before they announced this SP issue last week.I watched at the close of trade that day(Oct 10)a large order of 400k go through at 4-10pm at 26.5c and this guy wanted out.The last price was 27c and just before that someone sold 200k at 27c down from 28c.Anyway that seemed to be two people in the know so to speak,but this time it was the opposite with the SP closing only half a cent of its all time high.A good sign I feel,although volume wasn't overly strong.

More than likely its to announce some juicy drill results and like everyone thats what I'm hoping for.

The odds favour drill results from Salt Creek and maybe even Red Dale but there is an outside chance it could be Allendale/Borthanna!Crossing my fingers here guys!

Many trading halts don't last the full 3 days so we could hear something maybe Monday.Of course today would be better if its a good one.

 

[Jigalong]

The theatrical trading halt was uncalled for , but the news was good and it's all building into a nice future for Integra and stockholders .

I went in at 18 , got out at 28.5 and back in at 25 . Well worth the effort , although I was not game to go more than 100,000 in this market .

I am looking at AAM now . It must be time for some improvement there - the stocks seem to be very similar - except for the management style !

Cheers ,

Jigalong .

 

[exgeo]

I have also been interested in AAM and IGR. I just sold IGR (annoyingly a couple of days before the recent announcement!) and would buy more AAM with the money if I didn't already have a lot of them. AAM are only 1/3 as expensive as IGR on a market cap/oz basis (IGR = 1.2 MOz @ 2.6 g/t, AAM = 1.0 MOz @ 2.2 g/t)

 

[Trade4Us]

Hi Guys,

As you will see above, I too have been holding on to some IGR shares for quite some time now and glad to see that there is finally some positive movement being sustained.

I am only a small trader but was looking to branch out and purchase a few more with someone else and noticed your conversation about AAM. After having a look into it, I think I may just go ahead and do it! Is 28 cents a reasonable buy in at this point? Not sure whether to hold off but then again that's the name of the game!!

 

[exgeo]

Well, based on AAM being valued at 1/3 of IGR, with similar JORC resources in terms of grade and ounces, you can do the math yourself can't you? In fact with the recent price rise of IGR, it's heading towards 1/4 as expensive as IGR.

 

[cuttlefish]

Its worth noting that resource ounces is not the only criteria that should be used to judge the value of a company. Grade, size and depth of deposits and the type of host mineralisation (e.g. sulphides, oxides, laterites) and host structures are all important factors.

If comparing AAM and IGR (or any mining or exploration companies) its important to take all of these things into account.

 

[Trade4Us]

Thanks for the tip! It will be interesting to see how both of these guys go over the coming months and into next year, you would like to think that next year would be the time that we see a major increase in the SP if it is going to happen, all pending on the move from explorer to producer I guess.

 

[3 veiws of a secret]

Thanks for the tip! It will be interesting to see how both of these guys go over the coming months and into next year, you would like to think that next year would be the time that we see a major increase in the SP if it is going to happen, all pending on the move from explorer to producer I guess.

The upshot is Cairns knows his business.He's got the acreage .He has bought his tools to sort out the minerals,& here we are just ticking off the calendar days for the next drilling report....s.
There's nothing major about it ,its just patience thats killing me slowly

 

[pb112]

Thanks for the tip! It will be interesting to see how both of these guys go over the coming months and into next year, you would like to think that next year would be the time that we see a major increase in the SP if it is going to happen, all pending on the move from explorer to producer I guess.

This summary on IGR was posted on another forum by Kojasper and is very good reading for the followers of IGR

There are quite a few things to write about since I last penned a decent summary:

• Salt Creek, Another 80 metre step out with 62 metres at 2.38 grams a tonne
• Hole 107 another 80 metre step out. Visual inspection of RC drill chips indicates strong mineralisation continues to the south east. Now at 680 metres with hole 107.( commentary in announcement of 22 Oct about previous visuals of drill chips being confirmed bodes well for hole 107 )
• Three in fill results with continuing strong mineralisation, 37m @ 3.74 grams, 39m @ 3.66 grams a tonne, 52m @ 4.58 grams a tonne.
• Purchase of 100 man mining camp, 40 man camp already there. Only require the Mess kitchen for a complete camp capable of full blown production.
• RAB drilling results of 7m @ 12.34 grams a tonne EOH ( end of hole )
• Placement of 70m shares at 45 cents
• Chairman of the company purchasing shares
• European Road Show
• Results that are pending

Salt Creek just keeps on getting bigger. We have now had two more step outs of 80 metres taking Salt Creek to 680 metres by my spreadsheet. I have spread sheeted every announced hole at Salt Creek from North West to South east, from section 25,480mN to 24 760mN. Hole 107, or visual inspections of hole 107 have now confirmed that the mineralization now continues and is getting wider again to the South East.

Who knows how many more step outs before we figure out how big Salt Creek is. I am hoping that they don’t figure that one out for a while. Results of hole 107 are pending and if Chris Cairns has anything to do about it, the labs will be doing double time to get these results out to us ASAP.

In the announcement on the 22 Oct they talked about drilling results on section 24,960mN and 24,880mN, about how the drilling results confirmed the geological observations. That record would bode well for hole 107 when it is released. Likely to be another great intercept with grades that will put a smile on the faces of the Institutional investors, sophisticated investors and all other investors that have recently purchased Integra as well those of us who have been in for a long time.

In fill results continue to support the story that Salt Creek is of good grade and is continuous from one end to the other and from one side to the other. We have to remember that 95% or more of the results produced to date are at depths of less than 100 metres making this discovery very amenable to open pit production with low strip ratios and good margins. I don’t have to remind people that the gold price in AUD is now over $900.

Purchase of the mining camp almost completes the set up required for the company to set up base close to the site of the recent discoveries, having a team of Geo’s working their guts out for the shareholders, finding drilling opportunities in the vicinity of Salt Creek and Reddale. They are almost set up for production. I believe they require only one small section of the camp for completeness.

RAB drilling results at Reddale of 7m @ 12.34 grams a tonne EOH ( end of hole ). Let’s put this into context. Salt Creek was initially 350m by 150 metres. So far, it’s out to 680m by 100 metres with no drilling at width or at depth or north west to test for continuity in those directions. Still trying to find out how long this sucker is.

Initial RAB drilling tells us that the prospect at Reddale is 3 times the size of Salt Creek, at 1200m by 350m.

Also put this into the context of initial RAB drilling at Salt Creek where the best result from Bedrock produced 1m @ 2.48 from end of hole. All I can say is WOW!

I cannot wait for the Reddale results to be released. These two discoveries could put this region back on the map and we could be sitting on 1m oz’s of gold, all going well, in two deposits 3 kilometres apart. ( optimistic but I'm excited )

We all knew that the placement was going to happen, I even flagged it in posts that were posted by others about the mining camp purchase, the next qtr spend of $2m and fact that we would have under $2m left at the end of December.

Chris Cairns is a genius. Gold was almost at an all time notional high ( USD846.60), IGR’s share price was at an all time high in the mid 50’s. We put $31m in the bank and they have told us that the money is being used for:

• Continuation of drilling at Salt Creek and Reddale
• The relocation of the New Celebration Mill

Hello, the plant is being moved. It’s being moved to the potential site of production. I am not going to speculate where at this stage because it’s going to be in the vicinity of Salt Creek/Reddale and Maxwell’s. A no brainer really.

They start relocation now, in six to 9 months it’s moved and refurbished because that is the whole point, making it new again without the new cost. Between now and then we have the desktop scoping study that (Deeerrrrrr ) will lead us to Full Feasbility Study. Someone has already posted that the feasibility will take about 7 months to complete. IMO I think that the desk top study will be done by Christmas and then feasibility done by July 08. The plant’s been moved and almost refurbed by then. Commissioning can’t take that long.

In the mean time, lots of drilling, resource to reserve ( for feasibility ), exploration at Salt Creek, Reddale and the three or four other look a like targets in the Lucky Bay and Reddale prospects.

The Chairman has bought more shares on market at 51.5 cents. What a tremendous show of faith. If that’s not putting your money where your mouth is, then I don’t know what is.

European Roadshow is interesting considering that they don’t need to raise funds. I can only see one thing happening from telling the Poms and the savvy Germans about this terrific little pre-producer.

Results are pending. By my own calculations there are 12 drill holes pending at Salt Creek and the drilling of 25 new holes marked in red on the most recent drilling announcement. These, I would imagine will be released between now and Christmas time. That makes for a lot of results.

You can add to that the initial RC drill results from Reddale, the continuing RC drilling results from Reddale and Salt Creek and to put the cream on the cake, Barrick tell us that all four diamond drill holes will be completed by Christmas. I would imagine that Barrick would not put all 4 holes into the lab at the one time, I would expect them to send each hole to the labs for analysis as they are completed. Having finished 1 of 4 pre-collars at the time of the qtrly announcement, they would have to be diamond drilling by now. Results of the first of the four holes could be out anytime between the end of December ( ambitious ) to some time in January/Feb08 ( most likely ).

On top of that we will get a new resource statement from IGR. IMHO, don’t expect 2m oz’s because you will be disappointed. I think that is aiming way too high, but it won’t be 1.4m oz’s either.

As for our sophisticated investors selling out on us at a quick profit, you’ve got to be kidding yourselves. They are not sophisticated and institutional investors for nothing. I would imagine that the investors that got in are institutional or investors that have been supporting IGR and Chris Cairns for the past three years. They are not likely to be selling this stock any time soon.

I hope I didn’t bore you and that it provided something a little different. I can’t post what I don’t know but I do know that they are excited about hole 107 and I know they are very excited about Reddale.

 

[pb112]

More outstanding drill results from Salt Creek

ASX Release

22 November 2007

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

 

[pb112]

More drill results from Salt Creek

QUOTE
SALT CREEK – FURTHER STRIKE EXTENSIONS
The Board of Integra Mining Limited (Integra) is pleased to report further drill
results from the Salt Creek gold discovery within the Company’s 100% owned
Randalls Project.
Results have been received for an additional two 80-metre step-out sections to the
south-east which have confirmed mineralisation at Salt Creek now extends over 760
metres. Drilling on the south-eastern most section (160 metres beyond previously
released results) returned an overall intercept of:

55 metres at 3.39 g/t gold including discrete intervals of:
• 20 metres at 3.83 g/t gold and,
• 21 metres at 4.57 g/t gold including
 2 metres at 23.50 g/t gold in drill hole SKRC122.
These outstanding drilling results further confirm Salt Creek as one of the most
exciting gold discoveries in the Eastern Goldfields in recent times with other recent
RC drilling results including:

11 metres at 4.23 g/t gold in drill hole SKRC114,

12 metres at 2.31 g/t gold in drill hole SKRC118, and

14 metres at 1.88 g/t gold in drill hole SKRC111.
Integra is continuing to aggressively explore the Salt Creek gold deposit with the completion
of further 80-metre step-out sections to the south-east. Results received for this drilling
include 14 metres grading 1.88 g/t gold from 102 metres in drill hole SKRC111, 20 metres
grading 3.83g/t gold from 131 metres and 21 metres grading 4.57 g/t gold from 165
metres in drill hole SKRC122. Drill hole SKRC111 was completed on the 24,720mN section
and drill hole SKRC122 was completed on the 24,640mN section, 80 metres and 160 metres
respectively to the south-east of previously reported intercept of 37 metres grading 4.59 g/t
gold in SKRC107. This previous intercept was at the time of the announcement the southeastern
limit of drill information. These new results demonstrate that the mineralisation now
extends over 760 metres in strike and remains open to the south-east. RC drilling is
continuing to extend the overall strike extent of mineralisation.
The Salt Creek extensional drilling programme is being conducted at a very wide drill hole
spacing with drill hole collars spaced 40 metres apart on 80 metre spaced drill sections. This
very wide spacing is resulting in quite variable intercepts from one section to the next and it is
expected that far better definition of the mineralised zones will be resolved with planned in-fill
drilling to commence in the New Year as additional drilling capacity becomes available to the
Company. However, the objective of the current extensional drilling programme is to define
the strike extent of the gold mineralisation at Salt Creek to provide the Company with an
indication of how much in-fill drilling will be required to upgrade the defined gold
mineralisation into resources categories.

 

[pb112]

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.

 

[pb112]

Announcement today

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.