Integra Gold ICG.v ICGQF Halted today on very good news. As I suspected, the new drill results were very good and upped the resource to over a million oz indicated at over 7 gpt. Very impressive for low market cap developer. Thats going to extend the mine life to 10 years at 100k oz/year.
From the release: There are very few low cap-ex, safe jurisdiction, high-grade gold assets that can boast the potential for a 100,000 ounce per year or greater production profile. I'll second that and another that comes to mind is Gowest Gold.
Without incorporating the new resources announced today, and using the closing spot gold price of US$1239 per ounce and exchange rate of 1.24 from February 9, 2015, the Lamaque South Project PEA reports a pre-tax IRR of 106% and NPV(5) of C$266 million,
Those numbers can only get better if POG stays same or higher when they add the new ounces.
Stock has moved nice since I bought in Dec, but I think this release is going to get some attention. Those numbers make them very attractive to a mid tier. They have a fully permitted 2200tpd mine they just picked up. They are fact tracking to production and have excellent management.
Stay tuned for more as they are in their most extensive drill program ever and the PEA is going to be updated soon,
Link back for more DD
