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I am new to IDC but I was intrigued as to why fund heavyweights Blackrock (10%), Baker Steel (10.2 per cent), Och-Ziff (7.8 per cent) and Genesis (6.4 per cent) had such a big presence in a gold junior with a deposit known for 25 years with historical landowner issues and only close to 2 Moz Au to show.

I guess it is a manifestation of 1) trust in Management 2) evidence that landowner issues have been sorted and 3) Good reason to beleive that the deposit is much bigger than the currently outlined resource.

I was doing some reading on the mount Kare deposit and found the following interesing reasons to beleive that the deposit has the potential to achieve Porgera scales

"The pronounced aeromagnetic deep anomaly at Mt Kare implies that there is a more significant buried intrusion source for the stocks and dikes, than exposed at the surface"

(from:
Short course manual: Southwest Pacific rim gold-copper systems: Structure, alteration and mineralization, G Corbett & T Leach, 5/97 Edn.
http://www.corbettgeology.com/corbett_and_leach_1997.pdf)

"The potential size of the intrusive complex at Mt Kare is outlined by a 6 kilometer diameter magnetic anomaly similar in size to that at Pogera. Only 10% of this anomaly has been explored to date. "

( http://www.ipa.gov.pg/index.php?option=com_content&task=view&id=360&Itemid=113 )