just had time to have a quick read thru your post. I am going to take time to look even deeper in these matters in coming day(s). Looks like you've been doing some teriffic ground work and thanks for sharing.
The political situation (as mentioned by MA) is one thing that comes immediately to mind though.
Also did one very quick google on the fly and the following quickly caught my eye on a Madison webpage THE S.E.C. U.S. INVESTORS ARE CAUTIONED THAT MINERAL DEPOSITS ON ADJACENT PROPERTIES ARE NOT INDICATIVE OF MINERAL DEPOSITS ON OUR PROPERTIES
Also a bit confused why the Buffalo Madison thing didn't work. Was it because they just ran out money because of GFC ? Then how did IDC come to acquire the assets ?
Maybe obvious stuff to IDC followers. Anyway, I've only scratched the surface and will continue researching, including your good stuff.
IDC Price at posting:
10.4¢ Sentiment: None Disclosure: Not Held