mt kare alluvial, page-4

Gwaihir,
some answers to your questions.

Q. Does IDC own Ace?
A. At present it doesn't appear so.

Q. Is IDC's agreement for alluvial mining?
A. No. IDC don't have an agreement with any Local groups for alluvial or Hard Rock.

Q. Will they be reqired to build an infrastructure?
A. There were some verbal promises made in regards to this when Kingsate were thought to be doing Mt Kare ( Promnitz). Deep down nobody truelly believes that IDC will be carrying out those promises.

And your question relating to the article and the 2012 expiry date ( kingsgate/ IDC rights to mine the Hard rock)

The Exploration Licence 1093 is issued for a 2 year period at which time can be cancelled or renewed for another 2 years.
The holder - Summit/ Union Pacific Pty Ltd ( Mr Seiw Hong Koh) can carry out exploration only. After completion of the required program Summit can apply for Mining Licence for Hard Rock mining.

Basically yes, you are correct IDC can't mine for HR until they receive the ML from the PNG Government.

You have a right to be confused regarding the Kingsgate involvement. This is mainly due to the fact that Summit were only granted the licence because they had Agreements with Kingsgate to develop the project.

During that time landowners were treated to a large Kingsgate campaign. T shirts, hats . 'welcome Kingsgate' banners and all the usual propaganda.
Some were accomadated in hotels and vehicles and so on. All this was in the name of Kingsgate. (Promnitz)
Most landowners still believe that IDC is Kingsgate and that KCN will be using the Blue Chip credentials to carry out exploration and onwards.

So this is were the confusion is. Adding to the confusion is that KCN is a share holder in IDC and the Kingsgate man Steve Promnitz is a Director of Summit Development.

When the locals see this they too become confused.

let me if you have any more questions.