Casey Research Comments 4/11 Integra 5 Bagger / Take Over...Casey Research Comments 4/11 Integra 5 Bagger / Take Over Candidate
This is as expected, but good to see, nevertheless. The underground drilling will give Integra a closer look at the area of the proposed bulk sample, which should increase confidence in the company’s resource model. Remember that the exploration ramp (being made now for the bulk sample) is production-sized, which means that the same infrastructure would be used for actual production. This tells us that the project is likely closer to cash-flow than the recently completed PEA suggests (1.5 years). An interesting point is that the company plans to extract more than 20,000-tonnes in its bulk sample, possibly all the way up to 50,000 tonnes. That’s a lot more than the usual 10,000-tonne sample. If successful, could not only provide a great deal of validation, but it could also add a significant amount of cash as well. All good, and the high-grade, multi-million-ounce potential shaping up on a property with a permitted mill and tailing facility is more than enough to put this company on the runway up towards production soon. Meanwhile, the shares are off their recent peak, but still relatively high, so watch for the next big fluctuation in gold prices to create better entry points.