Yesterday was extremely hard for all holders of IDC. We publish great results and still the share price didn't move. I went to bed last night not depressed but extremely disappointed.
However, how things change with a clear head and good nights sleep (thanks to the rain that fell all night in Victoria). I dropped the kids off at school and in the car it dawned on me.
I'm usually a oil investor, picking up small companies that need to drill to get their reserves. IDC has already got these reserves (gold & silver). Every time they drill they hit more. Yesterday pretty much gave us another million oz of gold. Not gold kilometers under ground but so close to the surface you could poke a stick at it. In the oil game extra drilling defines the area where you get oil or gas. Usually at high expense and with so many problems. We have the gold right under our feet.
If you do a bit of research into PNG gold deposits it will tell you that gold deposits can also reach km under the ground (for example Wafi-Golpu projec). We haven't even gone there.
The share price is rubbish....but every stock has it's day in the sun (even dog stocks). This is not a dog stock. But gold in my eyes will eventually shine and at this point we could very well be in production...what a great timing that would be.
Gold is at all time lows in terms of sentiment but it is still at $1600 an oz. What happens when it turns, that's what you have ask your self. What happens when it turns.
Don't be rash, IDC will be something you can tell your grand children about.
As I have posted before as of 22nd of feb I owned 270oz of gold and 6000oz of silver.....yesterday that number went up. Now I didn't see that respond on the share price, but I'm not prepared to sell that amount of gold and silver for $50k to someone else.
The hardest part is buying and holding when the share price is so low, but when news is constantly good, you have to keep telling yourself that it will change. Read up on the news that IDC give you, do some extra research and make yourself comfortable for the ride.
Soon enough you'll be worrying about when to sell...and when the share price is heading north that won't be so easy.
Gold doesn't dull and fade away....hold you head up high and stick with it.
IDC Price at posting:
10.4¢ Sentiment: Buy Disclosure: Held
