GREY:ICMTF - Post by User
Comment by
TheRock07on May 06, 2009 10:17am
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Post# 15970622
RE: RE: Several recent BUY ratings
RE: RE: Several recent BUY ratingsClearly , with 50 % of the 2008 drilling outside the previously defined 43-101 zone and with a gold hit rate of 94 % of those holes, there is going to be a significant increase in the total gold resources , when the new 43-101 comes out over the next few days.
A 20 % increase would not be unreaonable , and would boost the gold reserves to 3.5 million oz.
What is more important about the 2008 drill data is the fact that it will convert a good portion of the Inferred to the much higher Indicated category.
This conversion has 2 benefits.............. it places ICI immediately into play and it also provides the basis for a quick scoping study , that would outline the likley economics of the deposit.
Taken together, these 2 developments would make ICI a very tempting takeover target for either Elkdorado or Sino gold , both of which have producing clone deposits nearby...