RE:GREAT rewiew by RICK RULE. have a listenPreciousMG,
Thanks for the link. rather short but to the point. Some comments.
- ICG has a good address in the Canadian Shileld
- young management team with commercial and tech skills
- does not have a mine (yet, I would add), exploring for a mine
- an exploration company looking for large deposits
- could end up with a binary result, either great success or failure depending the potential (total) deposit.
- Rick Rule is willing to take extreme risk for situations with great potential.
Agreed with RR that ICG is an exploration company, since its main emphasis is trying to improve the ounces from various deposits in the Val d'Or properties. But, things seem to shape up quite nicely with a RE slated for October (a few weeks away). The current line up is shown below with an expectation that the Oct RE will be much better.
- Triangle (I + INF): 1.2 Moz
- #4 Plug: 0.140Moz (could go up to 0.3-04 Moz in the new RE)
- #6 Vein: 0.08Moz (round it up to 0.1 Moz)
- Parallel: 0.142Moz
- Sigma (Historic): 2.436Moz; stopes above 200m could yield 0.200Moz. They have completed the review of the historic data in August 2016. It should be relatively easy to upgrade the historic results, but for some reason (???), management has not put top priority on this.
- Gold Rush Chalenge #1Target: Drill ready for the target underneath the Toyota dealership, something like #4 Plug?
- Lamaque Deep: 2-4 Moz (longer term, 2 years?)
So, the potential of a sizable deposit is there (1.2 + 0.3 + 0.1 +0.14 + 2.4 + 0.3 + 2.0 = 6.44Moz).
A 6-8Moz deposit, above 1800m, would be attractive enough for a major like G or AEM (or a medium producer like ELD). The deposit are open in other directions and at depth below 1800m (based on Sigma).
RR did not have the time to bring in the Sigma Mill which is the focal point for ICG management. Just look at the slide that has the mill sitting in the middle ready to take in the feed from various deposit on the front page (and page 10 with the potential feed from Triangle). Triangle alone would be able to support a starter low-cost mine (100,000oz/yr @ $100M/yr profit,...and expandable to 400,000 oz/yr with other feed coming on line) for at least 10 yrs.
May be ICG will never have a chance to become a producer, but it has laid out a dual track as exploer and potential producer.
RR has rolled his dice (binary results) with the potential deposit alone. Your turn to roll yours.
GH
PS: BTW, major holders: The Sept 2016 Corp Presentation (slide 4) shows ELD, Van Eck, Sprott, etc... in that order. ELD still has 13%, VE 9%, Sprott as #3 must have something like 5%, but this number has not been confirmed, but at least 2% (speculation)?