International Gold Corp (IGCO) Message Board

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Gold/Mining/Energy : International Gold Corp (IGCO)

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To: Chuck Delo who wrote (65)	7/25/1998 9:21:00 AM
From: Semyon Kuretsky	Read Replies (1) of 405

Thanks Chuck !! This is very good finding! There is one peculiar place in this article that attracted my attention: <<Canyon Mine, among others, also uses biotechnology to retrieve the hard-to-get-gold, trapped inside hard-to-process sulfide ore amounts as small as one for every 33 tons of rock>> I means that this ore contains 1:33 = 0.03 oz/ton. IGCO has an average 0.15 oz/ton with potential extraction rate of 60% . During this drilling program IGCO will try to determine also the best extraction method. If we use conservative estimate of only 30% of extraction rate, the potential amount of gold that can be produced per ton = 0.045. This is 1.5 times better then Mule Canyon Mine. All it proves that this property is potentially economical for mining. Talked to Marcus regarding the stock price and selling. He has no clue. Fundamentally nothing changed. There was a slight delay in delivery of drilling rig, which will be on the property next week. IGCO prepared roads, warehousing, all other necessary equipment and flagged all drilling targets. The ore will be send to the lab and also warehoused. As soon as lab results will be available it will be published.. If original estimate will be proven by this drilling program we will be looking at much higher stock price. (500mm tons * .15 = 75 mm oz of gold in the ground and this is only on 8.5% of their claims. The entire program is planned in two phases and should be completed in 5-6 month when IGCO can show the results to the majors. P.S. Regarding stock price and selling. a friend suggested that it could be an inventory clearing or margin call covering (had to sell stock under $2) by an institution or fund Looks like the selling has been dried up and I think we will be moving back to $1.5-2.0 level until the first drilling result will be published. If first release is positive we are going to spike to a 5-6 level. Regards, Sam

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