RE: Takeover by Shandong GoldSnstock that was a very good question what you asked, what a 43-101 report is. Here the explanation and I am not a geologist.
A 43-101 report is the bible for geologist, investors and institutions and therefore it determines our future share price. First of all our current 43-101 report was done 8 years ago and therefore shows as good as nothing, since it has never been updated, this is also the reason why no institution or major investor has ever put some serious money into this company.
A 43-101 is a certified report of what is in the ground on the property and shows how many tonnes our ounces are meansured, indicated and inferred. There are only certain companies which can issue these reports, since they are experts in this field and therefore charge an arm and a leg, I would assume that new 43-101 which will come out in late Febuary will cost about 300.000 CAD. Our 43-101 will be great, just the last drill result itself was a dream and this shows that there is a lot more to find.
The results of all drillings and discoveries of the past 8 years are going to be updated in this 43-101 report. It is an ongoing process, pretty much you have to update it every year, since you need to include new drill reults and with every update the value of the company increases, which means the share price increases. the 43-101 also outlines where they will drill next in order to find additional high grade veins. After that they will do a feasabilty study, which will calculate how much it is going to cost to get one ounce out of the ground vs. the actuall sales price of one ounce of gold based on current and future gold prices.
Lets assume that we have 1 million ounces in our new 43-101 report, then you can assume that the current value of the company is around 1.48 billion USD, which mean the stockprice would start to explode and that is why SD Gold has a hard on for this company, because their geologist already visited our property and checked it out. But do not worry there are several million ounces under this property and together with SD Gold we have the finacial capacity to put 30 drill riggs on the property and they will prove it up. Since you have already invested in this company for a long time, stay put, keep your shares, buy more now, because this is going to be one hell of a year for ICG and us shareholders. So all the idiots who are selling their shares for 78 cents right now will cry in march already, not to mention at the end of the year, I guarantee you that. I believe that this company will be in production within 1 year of today.
Thanks
Panda