IGO 1.08% $6.44 igo limited

question for grahamc58 plz ??

  1. 252 Posts.
    good reading guys concerning igo

    some questi0ns plz

    1. production Q3 30,593 tonne @3.75

    methods of extraction of ore....

    A. 51% mechanised flat backing ( what is this ?? bogging out previously stockpiled ore ?
    B. 19% hand held mining
    C. 30% long hole stoping

    So we have 30% of the Q3 ore recovered in only 11 days by the method of long hole stoping ( this was indicated in the report that long hole stoping did not commence untill 20/3/03) . Have I read this correctly or am i way out of line ??

    Will long hole stoping be the prefered method of extraction and the source of the majority of ore this Q4 with the 2 stopes already prepared and another 4 beiging prepared ???

    Is long hole stoping cheaper method of mining than (mechanised flat backing) what ever that was ??? ,that contributed 51% of Q3 production ??

    Will the grades with the long hole stoping be @ the significantly less grade of 3.17 as indicated in the mine budget plan if it 's going to be the prefered method of extraction?

    Was the " descrete" mining the hand held mining that contributed 19% of production but @ a greatly increased grade that allowed the Q3 production to come in above of forcast grades.? Something like picking the eyes out of the best of the best ?? how long will the "descrete " continue for ??

    Will the "descrete " become quickly exhausted ?? (dry up ??) and the majority of production soon revert to the budgeted grade of 3.17 meaning that the targeted tonnages must be acheived to maintain economics ??

    Will we see this Q4 , greatly increased tonnages due to the long hole stoping but @ a reduced ore grade ?, remember the budgeted overall mine grade is @ 3.17

    What is the Gibbs south resource that is estimated at 4000 tonnes graded @ ??

    Is the hoped for repetion of the Victor/victor south resource at depth based on the one soiltary hole drilled by previous operators and the one hole recently completed by IGO ?????

    At this time, IGO is a one mine company, although the gibb resource seems to offer an alternative source of ore if there is a problem @ Victor ( but still not confirmed as a mine untill end of next Q4 June @ earliest ???)

    Seems the management could waltz around the place blindfolded and at midnight and still know every nook in the place which is a huge benefit along with all the aquired data from previous exploration.

    In conclusion , i like the story, there r a few questions to be answered and the Q 4 report may have those .!!

    * A soild Q of production
    * Gibb resource mining planns
    * further drilling of the off shoots
    * Most importantly and hopefully the return of Ni to previous highs of $ US 9000 tonne.
    * Someone said earlier that IGO seems to track the value of Ni ,, well i will venture this, if Ni goes down in value i feel so will IGO !!!

    Hope anyone who reads this can make sense of my points.......first time i have really tried to analyise a stock before buying !!!!

    regards.......i'm buying in the morning !!!!

    PPS......... IGO was tipped today in the Sunday Times "HOT TIPPS" by Ian Parker of Hartleys as a speculative buy
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