Yukon equally as good With all due resptect Redhead333 et al, I would go so far as to say that thier Yukon assets are just as good as their Blackwater assets. Sure 3 T's has 600k oz of Gold equivalent (400k oz of gold plus 20 mil oz of silver works out to about 600k oz gold equivalnet using a 50:1 gold/silver ratio) At a paltry $10 per in situ oz - this alone is now worth about $6 million or 14 cents per share - not to mention that IGO is trading well below cash and receiving nothing for this and other assets. And $10 per in situ oz is much much less than what Newgold paid when consolidating the region over the past few years.
I am very familiar with the White Gold district and it is far from dead - just check out the chart for V.CSL - and this success is just from trench results to date as no drill results have been released so far. With Kaminak now connecting all of thier zones, thier property is shaping up to be even better than the former Undeworld Golden saddle which was snuffed by Kinross a few years ago. The main note about this regions is that since there has been little or no glaciation over the past 10 milion years - all discoveries have started as robust soil samples, followed by trenching and then confirmed with the drill bit. These latest soil samples reported by IGO at thier YCS property are off the scale (4 grams per ton gold in a trench is fabulous - but 4 grams per ton gold in a soil sample is jaw dropping) It looks like IGO has the western extensions to the monster Coffee claims being delineated by Kaminak. Now that we are trenching those juicy soil samples, imagine how the market will react when positive trench results are released.
Once the markets realize we are trading below cash, and realize just how robust both our 3-T's and Yukon holdings are, and then they take a look at our management team lead by Randy Turner - this stock will have a major and permanent move northward.
I own a ton of this deal - probably 300k shares personally and my associates are also deeply papered up.
My only complaint is simply the lack of promotion or the somewhat confusing inability of Randy to generate much investor interest in this deal. I mean any astute investor I point this out to is all over it and can't beleive the bargain they are receiving. We are buying this below cash so all of these great assets we are buying cost nothing - just free dessert. On the other hand, this lack of coverage and attention by the investment community has allowed many of us, myself included, to get papered up at ridiculously low levels. (I share the same opinion with V.SPY - rather than complain just buy more - lol) I bought most of my IGO paper in the .16-.18 level, and I would not consider selling any at 30 cents - thats still about the value of cash on hand.
This deal is like someone has 100k in the bank plus a house and car paid for - and I can have it all for less than $75k!! (The house and car would equate to thier Yukon and BC properties)
Lastly - Randy Turner is top drawer and unlike so many of the Howe street shysters - this guy is a real value creator. He as done it again and again and obvioulsy he is going to do it again with IGO.
I suppose one of the reasons for the lacklustre performance has been the fact that this is an orphan company in that all the holders were once Silverquest holders and IGO was not why there were there. Let's hope that this company becomes the orpan that turned into a rock star.
Good luck to all longs - lets all hang in there and buy on weakness.
Jandd