Ann: Trading Halt , page-14

Hal, pretty sure most the drilling used in the PFS had already been done by other companies before IDC took over the project.

Cash burn for exploration is way higher in general in PNG due to the remoteness of projects and setup costs for drilling as well as sending sample etc..


Capital Costs are generally far higher also due to lack of infrastructure etc. also.


Not saying certain projects wont be a success, this could be a bigtime project - thats why im following it, but justing saying, most the time with these PNG projects it probably just better sitting on the sidelines till the porject is much closer to production, then you can see the full story and know what your money is getting in return.