IGR - Integra Mining
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George,
I can't tell you whether this stock is undervalued or not, as I am not a T/A, but I can summarise what I consider to be the very strong fundamentals here.
From my experiences in the mining industry, talks with colleagues, and analysis of various gold projects, IGR really stand out for me. What I have heard about their management is positive, apparently Cairns is one of those guys who have a knack of making things happening. He has a economic geology background which is encouraging (I always get worried when I hear that a lawyer or accountant is running a resource company).
Crucially in these times of tightening credit markets, IGR are well cashed-up, with $30M or so in reserves. That could make all the difference between a fully-funded year or two of exploration and mill refurishment, and having to go to the market for funds leading to more and more dilution for current holders, as is happening to many companies. The depth and extent of drilling at Salt Creek is impressive, it suggests to me that these guys are serious about their exploration and have a good understanding of what it takes to drill out a known ore body and understand the geology.
Oviously Salt Creek is a cracker of a discovery, and with resources of 1.5M oz or so at a decent grade, a 100% owned mill ready to be refurbished, significant exploration upside and good cash reserves, I'd be keeping IGR on my watchlist for sure. There are so many companies around that are train wrecks waiting to happen, so it's very impt to do as much research as you can.
Logically with a continuation of exploration success in 2008, and with a successful phase of mill refurbishment this year, you could realistically expect a re-rating of the sp to occurr imo.
jman
Some more food for thought here,
Announcement from IGR today:
"Salt Creek another record intercept - 51m @ 7.63g/t"
(which also includes 16m at 13.3g/t)
Wow, some really nice width there coupled with some attractive grades. This particular hole is on the same section as their previous best result, 40m @ 7g/t. They are now infill drilling on a 20m grid, compared to the first pass RC which was spaced at 40m, so basically they're drilling the thing out.
They seem confident that over the near future they should be able to report increased resource figures at a higher JORC category and confirm extensions to the current Salt Creek ore body. They have 3 RC rigs and 1 diamond rig drilling now, that is a really good sign for me as it suggests they are taking this operation seriously.
I'm struggling to find a better value opportunity in the Au sector atm, if you are looking for an emerging company that has gone relatively unnoticed, they're definitely worth a serious look imo. Was tempted to get in today at 40.5c, but I think I'll continue to watch.
DNH
jman
Announcement from IGR today:
"Salt Creek another record intercept - 51m @ 7.63g/t"
(which also includes 16m at 13.3g/t)
Wow, some really nice width there coupled with some attractive grades. This particular hole is on the same section as their previous best result, 40m @ 7g/t. They are now infill drilling on a 20m grid, compared to the first pass RC which was spaced at 40m, so basically they're drilling the thing out.
They seem confident that over the near future they should be able to report increased resource figures at a higher JORC category and confirm extensions to the current Salt Creek ore body. They have 3 RC rigs and 1 diamond rig drilling now, that is a really good sign for me as it suggests they are taking this operation seriously.
I'm struggling to find a better value opportunity in the Au sector atm, if you are looking for an emerging company that has gone relatively unnoticed, they're definitely worth a serious look imo. Was tempted to get in today at 40.5c, but I think I'll continue to watch.
DNH
jman
New level of support around 50c?
Hehe, I wish I was a techie, opinions anyone? Certainly coped with the woes on the Dow without too many problems today. Sellers don't look like they're ready to go down without a fight.
Certainly I'm still very bullish here, although dnh.
jman
Hehe, I wish I was a techie, opinions anyone? Certainly coped with the woes on the Dow without too many problems today. Sellers don't look like they're ready to go down without a fight.
Certainly I'm still very bullish here, although dnh.
jman
Good support from midday today with some nice size parcels trading. Looks like there is some more drill results on the way??? plus gold at $980 plus tonight as well.
16:10:42 0.5300 15,000 7,950.00
16:10:42 0.5300 10,000 5,300.00
15:52:15 0.5200 50,000 26,000.00
15:08:14 0.5150 46,600 23,999.00
15:03:40 0.5150 3,400 1,751.00
15:03:40 0.5150 3,000 1,545.00
15:03:40 0.5150 3,000 1,545.00
14:28:17 0.5150 55,000 28,325.00
14:23:31 0.5150 42,000 21,630.00
14:23:31 0.5150 28,000 14,420.00 XT
14:11:09 0.5100 15,457 7,883.07
14:11:09 0.5100 84,543 43,116.93
13:40:04 0.5100 30,000 15,300.00
13:37:55 0.5100 27,957 14,258.07
13:37:55 0.5100 30,000 15,300.00 XT
13:37:55 0.5100 42,043 21,441.93
13:37:04 0.5150 7,000 3,605.00
13:21:57 0.5150 10,000 5,150.00
12:33:58 0.5100 10,957 5,588.07
12:33:58 0.5100 25,000 12,750.00
12:33:58 0.5100 6,866 3,501.66
11:59:05 0.5100 120,867 61,642.17 XT
16:10:42 0.5300 15,000 7,950.00
16:10:42 0.5300 10,000 5,300.00
15:52:15 0.5200 50,000 26,000.00
15:08:14 0.5150 46,600 23,999.00
15:03:40 0.5150 3,400 1,751.00
15:03:40 0.5150 3,000 1,545.00
15:03:40 0.5150 3,000 1,545.00
14:28:17 0.5150 55,000 28,325.00
14:23:31 0.5150 42,000 21,630.00
14:23:31 0.5150 28,000 14,420.00 XT
14:11:09 0.5100 15,457 7,883.07
14:11:09 0.5100 84,543 43,116.93
13:40:04 0.5100 30,000 15,300.00
13:37:55 0.5100 27,957 14,258.07
13:37:55 0.5100 30,000 15,300.00 XT
13:37:55 0.5100 42,043 21,441.93
13:37:04 0.5150 7,000 3,605.00
13:21:57 0.5150 10,000 5,150.00
12:33:58 0.5100 10,957 5,588.07
12:33:58 0.5100 25,000 12,750.00
12:33:58 0.5100 6,866 3,501.66
11:59:05 0.5100 120,867 61,642.17 XT
Thanks mate,
makes some very interesting reading when viewed in this context. Well diamond drilling underway, or possibly completed by now.
Possibly some issue with the orientation of the main ore body to be ironed out, but probably nothing that can't be worked out with careful infill and step-out RC drilling
jman
Sean K
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Yep, support around the previous resistance line which is close to 50 cents. If POG stays steady then looks to be a positive break. My only concern with goldies atm is that POG's run so hard it's bound for a decent correction and all gold stocks will go with it.
Attachments
Looking solid atm Kennas,
Holding up well at new support above 50c, plenty of buyers lining up to get a piece of the action, so suggests break may well hold, as you mentioned.
Trading wise, a good deal of interest being shown here, definitely not as thinly traded as some of the other goldies around.
jman DNH
IGR chugging along nicely,
Up 6.5% today on the back of no news, I assume with the infill drilling at Salt Creek near completion (?), they'll be keen to get the updated reource figures to the market as quickly as possible. The relocation, dismantling and refurbishment of the New Celebration milling facility should reduce investors risk exposure substansially, as will the advancement of the upcoming feasibilty study in latter 08.
jman
Well well....
Gone into a trading halt pending the release of exploration results, I wonder if there was a bit of insider buying here recently to account for the 6.5% rise?..lol. They would appear to be fairly significant results to account for the trading halt....thoughts?
jman
Gone into a trading halt pending the release of exploration results, I wonder if there was a bit of insider buying here recently to account for the 6.5% rise?..lol. They would appear to be fairly significant results to account for the trading halt....thoughts?
jman
jman 2007
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
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
Hmmm...
I'm not prepared to comment on this rumour either way. Although with most commodity prices softer and another day of blood-letting on the All Ords, I'm not really surprised that they held off releasing these results. I wouldn't be surprised if the 6.5% rise was due to the horse bolting a "wee" bit early either.
jman
25 March 2008
INTEGRA HITS ‘10 OUNCE’ BONANZA INTERCEPT IN
NEW ZONE AT SALT CREEK
• Outstanding new high-grade intercept at Salt Creek gold deposit:
. 10 metres at 137 g/t gold from 3 metres including ‘bonanza grade’
zone of:
• 4 metres at 328 g/t gold (+10 ounces per tonne)
• New near-surface zone of high-grade mineralisation defined.
• Large volume of additional RC drilling results being compiled.
Integra Mining Limited (ASX: IGR – “Integra”) is pleased to announce further outstanding drilling results from the Salt Creek gold deposit at its 100%-owned Aldiss-Randalls Gold Project near Kalgoorlie in Western Australia.
Integra is continuing to aggressively explore the Salt Creek gold deposit with an ongoing program of 20 metre spaced holes on the existing 40 metre spaced sections. Results received for drilling completed on the 25000N section has identified a new near-surface zone of gold mineralisation comprising 10 metres grading 137 g/t gold from 3 metres depth in drill hole SKRC168. This intercept included a ‘bonanza’ zone of 4 metres at 328 g/t gold (+10 ounces
gold per tonne) from 6 metres drill depth.
The new zone of mineralisation is located approximately 50 metres to the grid west and stratigraphically above previously modelled mineralisation. The extent or importance of this new zone of mineralisation is currently uncertain, however, recent drilling along strike from this intercept has produced additional intercepts within this horizon, albeit not of the exceptional tenor of this new drill intercept.
The mineralisation lies close to surface and is associated with quartz veins. This is considered to be analogous with some of the more recent visible gold mineralisation seen in diamond drill core where ‘pinhead’ gold is observed in late stage quartz veins (see photo – assays pending).
A tabulation of these results and an updated drill section are attached with intercepts received to date.
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.
INTEGRA HITS ‘10 OUNCE’ BONANZA INTERCEPT IN
NEW ZONE AT SALT CREEK
• Outstanding new high-grade intercept at Salt Creek gold deposit:
. 10 metres at 137 g/t gold from 3 metres including ‘bonanza grade’
zone of:
• 4 metres at 328 g/t gold (+10 ounces per tonne)
• New near-surface zone of high-grade mineralisation defined.
• Large volume of additional RC drilling results being compiled.
Integra Mining Limited (ASX: IGR – “Integra”) is pleased to announce further outstanding drilling results from the Salt Creek gold deposit at its 100%-owned Aldiss-Randalls Gold Project near Kalgoorlie in Western Australia.
Integra is continuing to aggressively explore the Salt Creek gold deposit with an ongoing program of 20 metre spaced holes on the existing 40 metre spaced sections. Results received for drilling completed on the 25000N section has identified a new near-surface zone of gold mineralisation comprising 10 metres grading 137 g/t gold from 3 metres depth in drill hole SKRC168. This intercept included a ‘bonanza’ zone of 4 metres at 328 g/t gold (+10 ounces
gold per tonne) from 6 metres drill depth.
The new zone of mineralisation is located approximately 50 metres to the grid west and stratigraphically above previously modelled mineralisation. The extent or importance of this new zone of mineralisation is currently uncertain, however, recent drilling along strike from this intercept has produced additional intercepts within this horizon, albeit not of the exceptional tenor of this new drill intercept.
The mineralisation lies close to surface and is associated with quartz veins. This is considered to be analogous with some of the more recent visible gold mineralisation seen in diamond drill core where ‘pinhead’ gold is observed in late stage quartz veins (see photo – assays pending).
A tabulation of these results and an updated drill section are attached with intercepts received to date.
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.
These results need to be carefully considered,
Going by their release they seem to be saying they're unsure if these results, spectacular as they are, are related to the primary gold mineralisation event, or represent some residual near-surface Au enrichment, or "supergene" enrichment.
Being so shallow it'll be weathered to absolute buggery, no reason why they can't come back with a digger once they're up and running and drop this ore straight in the mill
. Money for jam. I was thinking they may have possibly intersected an old palaeo-channel (ancient waterway), which can be very prospective for Au, but they seem to have intersected a fair bit of vein qtz, so probably not.
jman
Going by their release they seem to be saying they're unsure if these results, spectacular as they are, are related to the primary gold mineralisation event, or represent some residual near-surface Au enrichment, or "supergene" enrichment.
Being so shallow it'll be weathered to absolute buggery, no reason why they can't come back with a digger once they're up and running and drop this ore straight in the mill
. Money for jam. I was thinking they may have possibly intersected an old palaeo-channel (ancient waterway), which can be very prospective for Au, but they seem to have intersected a fair bit of vein qtz, so probably not.jman
Sean K
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More great grades from Salt Creek.
Not completely over what this means to them. Are they turning into a major goldie with these types of hits?
Not completely over what this means to them. Are they turning into a major goldie with these types of hits?
Now that is some impressive grade....
The Salt Creek resource will be upgraded by the end of May 08, I'm sure of that now. With these type of intersections I just wonder if they really know how much gold they're sitting on down there...quite an enviable position to be in! They're pushing this project to the limit, probably 5-6 rigs double-shifting atm
jman
Going great guns atm....
Threatening to break through 70c on current momentum, perhaps the market is waking up to the potential of Salt Creek?...afterall, it has been well promoted in the media. My only slight concern is that this doesn't get pumped up to such a point that a slight u-turn in the POG will take IGR with it.
jman
Threatening to break through 70c on current momentum, perhaps the market is waking up to the potential of Salt Creek?...afterall, it has been well promoted in the media. My only slight concern is that this doesn't get pumped up to such a point that a slight u-turn in the POG will take IGR with it.
jman
CC has just completed a series of talks in the major City's and I'm sure this has helped to underpin the rise in the SP. Also recent deep drilling at Salt Creek has been rumored to show very good results which are due from the lab very soon so this should help with a nice long steady rise in the SP.
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Hi all, new user here but very interested in IGR. Price seems to have come back to the $0.50 level from a high of $0.71 ? Any news on why the resource estimates were pushed back from end of May to Mid June? Any other comments would be appreciated.
Going great guns atm....
Threatening to break through 70c on current momentum, perhaps the market is waking up to the potential of Salt Creek
Bah...
Next time I'll be thinking twice before I post sp targets, I should know by now to leave that sort of thing up to the experts.
Reasonable bounce off 45c-ish late last week, this has been very heavily sold down for reasons I don't fully understand, as I don't consider anything has fundamentally changed within the company.
GD, I wouldn't be too concerned with the delay in the release of the Salt Creek resource upgrade (if indeed, that is what we can expect). I expect the delay may be due to IGR wanting to incorporate some of the intersections further along strike into the resource model. The resource upgrade should accomplish two things:
a.) The resource and infill drilling will increase the geological knowledge and controls on known mineralisation. At this stage, the 250K ounces are classified as inferred. Expect a decent proportion to be upgraded to indicated and possibly measured. It would be premature to expect any Reserve ounces from Salt Creek as there have been no detailed economic studies undertaken as yet. Potentially not many more ounces to be gained from this exercise, but absolutely critical that it is done properly.
b.) The recent extensions along strike SSE of Salt Creek will add additional ounces if incorporated into the latest model, but will be of inferior quality as they will most probably be classified as inferred at this early stage.
I would be keeping an eye on some of their regional exploration as well, some interesting anomalies that look like they warrant some follow-up drilling. Patience is the name of the game here, Salt Creek would be a great little starter project for IGR, and it's good to see them undertaking a decent exploration programme now.
jman
