what if!

What if there is a TO lets have a look just in case!

While we wait for the drill results!!!!!!$$

This is not representative of true current value which put at about 37-40 cents, but pending completion of PFS, well, should be faily valued and I think about 55-60 cents.
Obviously a take over must represent a SP wich could be reasonably based on the real capacity of the company to realise on its assets in the next 12-18 months.
I would put a FMP on IDC shares at about 75-80 cents if a TA bid was made before after August but before 31st December 2012

Moreover
there are about 1,400,000 oz in proven and measured.
Allowing for all relevant considerations in a TO the coy would be worth (to me) about 25% of its IGV.
Gives a IGV (for the purposes of a TO) of plus A$2,200,000,000 and a notional MC of about 550,000,000
Thats $1.10 on the bid leaving a further 700,000 oz outside the valuation, = big blue sky.
But discout 15-20% for FMV.
hence = about 80 cents.
IMO Any TO will not conclude before PFS is complete, probably not until BFC is done.

DYOR because I no nothing at all.
Constructive comment welcomed.
Janus