approached by investors seeking joint venture, page-47

Hey Blog,

I don’t think it was presumptuous; I was just using an example illustrated by another member of the community for the sake of discussion. Beadell Resources is a stock close to the value we were discussing the likelihood of achieving in the future, therefore was a benchmark we could relate too in discussion. In my point of view, I believe it was achievable for Indochine Mining to reach this benchmark in the next twelve months as I have illustrated previously, but this was not an attack on your investments. Do not get defensive. I can only assume from your response that you own stock in BDR, but I must illustrate these posts were not BDR versus IDC purposed.

Your comments illustrate that ‘in the near future’ we will be debt free, or have the following future agreements – I am not concerned with the future. Good luck on your investment, and it is fantastic to see you researching your stock and deeply vested into them but as I have just stated we are comparing the ‘current’ circumstances and value of Beadell Resources to Indochine Mining. As the ‘current’ circumstances are what have developed the stock price we are setting out to achieve, the future circumstances will influence it further. You continue to compare the two in a competitive manner based on opinion, so I will leave your post there, and reiterate that this is not a competition or ‘contest’ as you describe.

In regards to a few of your comments in your post I will respond to and leave you to ponder. Geologists believe that almost three million ounces of gold have been pulled from the surface of Mount Kare; and Stephen Promnitz has stated himself that he believed a million ounces were pulled from the site in the late eighties in just twelve months by just using pickaxes while he was present. As a friend of mine once stated, the gold doesn’t fall from the sky! As a consequence I do not think increasing our resource estimate will be a problem, nor do I have the opinion that I am a true believer, I am just looking at factual information in front of me. If there is a few million ounces on the surface, what are the chances there will be more in eleven bonanza zones?

In regards to support, the PNG Government is behind us! Indochine mining is continuously in discussion with the Government, and the Government has even provided us with support and assisted our development. The PNG landscape has hundreds of workers doing a job for extremely low prices and good quality. In regards to company experience, we have one of the most experienced boards in both mining and finance that I have seen in any mining company. It was only yesterday we appointed Mr Thomas who is a considerably wealthy man with very significant connections, and knowledge both on the ground and financially. It is not a competition between companies, but I do think Indochine will be up there with the best in due time. As Stephen always says, 'Watch this space!'