Integra Mining (IGR)

Shares / Stock Code

IGR

Stock Exchange / Sharemarket

Australian Securities Exchange

Integra Mining (IGR) is an emerging gold producer with a dominant ground position of around 2,200sqkm at its Aldiss-Randalls Gold Project near Kalgoorlie in WA. IGR defined the structural controls over mineralisation along the 80km Aldiss Fault and has so far defined resources of 1.8Moz. A positive pre-feasibility is based on a four-year life (480,000oz) but the target is 120,000oz per annum for 10 years. The exploration potential is very high.

The Randalls Project comprises resources at Salt Creek, Maxwells and Cock-eyed Bob, and exploration prospects at Lucky Bay, Mohegan, Lady Eileen and Red Dale. Its subsidiaries include PayLODE Pty Ltd, LODEd Pty Ltd and BackLODE Pty Ltd.

IGR controls an underexplored region east of Kalgoorlie. IGR has a low EV per resource ounce with a global resource of 1.8Moz and ownership of a mill and 140-man modern mining camp. The discovery of Salt Creek was a major event that has so far added 0.4Moz to the Au inventory. There are targets that still remain to be explored. IGR will emerge as a medium-cost gold producer with a robust and relatively low-risk project, with exploration potential to significantly extend the life of mine.

Major competitors consist of other mining companies in Australia and overseas exploring for gold, precious and base metals. These range from massive international companies to small explorers with one or two projects. Prospective gold customers include governments, banks and international gold brokers whilst for precious and base metals would involve arrangements with utilities, large industrial users and steel plants.

IGR has a dominant position along the Aldiss Fault and nearby at Randalls to the west. Salt Ck was an excellent discovery and led to a step-up in resource ounces to 1.8M. Metallurgical test-work indicates good Au recoveries of at least 95%. The pre-feasibility study indicates at least four years' good cashflow that can be used to continue regional exploration. North of Salt Ck, and 8km between Salt Creek and Lucky Bay, where only 10% of the strike is drill tested, are high-priority targets.

Integra Mining (IGR) Products and Services

  • Gold, nickel-copper sulphides, and uranium exploration

Integra Mining (IGR) Locations and Subsidiaries

Integra Mining Head Office
168 Stirling Highway,
NEDLANDS, WA 6009
Phone: (08) 9423 5920
Fax: (08) 9423 5930

Integra Mining (IGR) Share Price

Submitted by ASX Listed Company on 23 April, 2010 - 06:52

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