I really don't think the sky is fallingI'm a bit confused at the degree of anger here -- sure, I'm disappointed that we didn't get a 10% bounce, but this PEA isn't the end of the world. Here is my understanding of it:
1) it's a solid, conservative base for a respectable mine.
What does that mean? On the one hand, it's not recognizing the 'blue sky' potential that we've all been talking about for the past year. On the other, it's not puffery. My understanding of this field (junior gold miners) is that trust in management is critical -- Integra has put out an economic mine plan with solid fundamentals. Deal with that.
2) why would they do this?
Because the resource estimate is coming up. What is the value of a solid, economic mining plan? It's something that you plug your resources into. This document is half of the program, another 25% is coming up soon; and then later this year, the bulk sample; and at some random point after that, drill results from the GRC and Lamaque Deeps.
3) Where's my $2 stock price?
Still there in the blue sky. Integra is still a speculative buy, like it always has been; only now it's got a workable, financeable mine coming up. The floor beneath the speculation is getting stronger. Why did Integra go down yesterday? Who knows? A lot of gold stocks went down, maybe, just maybe, the sector moves together and not everyone is as focused on this single company as we are.
So everyone, just chill out. Did you buy stock in a mining company, or in a puff project? Freaking out about a PEA that's not massively speculative is silly -- everything that isn't in this is icing on the cake when ICG is in production. We're focused on this PEA, management is focused on building a mine. Everyone who buys into a project like this is gambling to some degree; but I kind of hope that ICG management isn't. And chill about each other, too -- everyone's here to make money in some way. Some people are long, some people are selling when they can, some people are here to drive the price down and get in at a lower level. There's not that much difference between us, really.