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 (125)	8/21/1998 7:27:00 PM
From: Semyon Kuretsky	Read Replies (1) of 405

Chuck, I'll have it all... It is my understanding that IGCO will publish only assay results from independent lab. And this will happen in the midst of September... While we are waiting impatiently let's talk about our company potential.. IGCO completed drilling an area encompassing 150 mm tons of ore and estimated the reserve pertaining to this area which is an average 0.14 oz/ton. They never said it could be 21mm oz of gold but they think it more.. IGCO never published estimated number avoiding all kind of distracting inquiries...(re: MINE) But we can say here that estimated reserve is 150mm * 0.14 = 21mm oz of gold This drilling program covers only 8.5% of their claims and 500mm tons of ore with a purpose to prove reserve. Let's say that only 21 mm oz will be proven then intrinsic value of this property and share price should be at least: 21mm oz * $25 (cost per oz in the ground) / 47mm shares = $11 share If all 500mm tons will be proven then the potential share price is $11 * 3.3 = $36/share If we add to this cost build in indicated or inferred resources, the stock could be up to $45 I think at this point company will just sell it to the major.. and everybody will be happy. I'll sit tight and accumulate while investment community is asleep.. Good luck to all Regards, Sam P.S. There is nothing in our way: Company is well funded, business plan is perfect and the gold is there. Please prove me or tell where I'm wrong !!!

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