what does it take?, page-20

My dear grasshoppers

The results from the BZ indicate very high BONANZA grades and easy potential for +1,000,000 oz in the lowest quartile of costs, say 500-600 oz.

We are waiting to hear what the WRZ grades are but I suspect it will be more of the same.

So at this stage I am going to speculate, reasonabley, that the BZ will hold as follows:-
400,000 oz:- @ +20 gpt
200,000 oz @ +10 gpt
200,000 oz @ + 4 gpt.......in about 1,500,000 tonnes.

Hard to really 'know' until further drilling is done to difine the scope of mineralization in the BZ but its open on strike.

I am also going to speculate that the zone between the WRZ and the C9 pipe will yeild a similar discovery, add another 400,000-650,000 oz, possibly more.

Further, I think there will be another 3-400,000 oz added to the resource from another location but I will not comment on where or why I hold this view at this point in time.

I am comfortable with the proposition that when mining starts in 2015 IDC will have a reserve some where around 2,000,000 oz with a further 2,000,000 oz in measured or indicated resource.

A total resource of 4,000,000 oz.

I will discount the value of the gold in the ground at the time of completion of the FS to (respectively) 40% of the reserve value and 25% of the Resource value.

I give IDC a potential discounted IGRV of about 1.65 billion (reserve and resourse) in such a case.

What I say is purely speculative but the discovery of the BZ Bonanza Zone makes such speculation far from fanciful or titallatory.

Its excatly as stated by the mangment of IDC, they know what they are doing but all before were clueless.

This is also all based on resultes indicated to a depth of about 150-170 meters.

Above are my opinions based on info to date and the reality NOW that we do have BONANZA ZONES of some significance.

The above views are not to be relied on for any investment decision.

Nor are we considering the potential from 150 to 250-300 meters (even more likely to contain BONANZA GRADES because frankly, tis better to wait.

Do your own research.