IDC indochine mining limited

approached by investors seeking joint venture, page-49

  1. 246 Posts.
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    Hi Askari and 23Skidoo , I do think its a tad presumptuous to make the BDR-IDC comparison,you are definitely not comparing like with like, BDR is a profitable mine,virtually debt free. IDC have yet to come up any reserve figure. Descriptions such as "11 bonanza zones" don't impress me without drill core data. How extensive are these zones? What drill core evidence is there for Porgera Mark2? IMO you have little factual evidence to support your theory, if the evidence was there the SP would be riding many times higher than it is. I can understand Steve P making bullish predictions, after all he is CEO, his job is to put forward the most optimistic scenario. I suspect that 1mozs from the surface in 1 year is a harmless urban myth. IMO a pick and shovel brigade that wasn't totally organised couldn't shift maybe 25 million tons of dirt in a fairly tough environment, 3 million oz is unbelieveable IMO. IMO IDC is a reasonable short term trading stock. In fact it owes me nothing. But it could fall back, there aren't sufficient hard facts to guarantee success whereas BDR is ,within the constraints of the gold market, a safe bet. I also don't expect SP to rise by multiples of 10 as many of the true believers do. In this low inflation environment a SP of $1.30 would see me out quite satisfied. Unlike some of the true believers I am a realist. BOLTA!
 
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