Indeed we are due Barney. And let's not forget that the company has an excellent track record of delivering good news, expecially in the last 9 months or so. To recap the main achievements in that time;
Maiden 500koz at 10 g/t.
Revised strategy targeting +1mil ozs at >10g/t (global Top 20 gold mine) via low cost adit.
Revised production target of 200k oz p.a. at >10g/t.
Revised CAPEX to < $100mil and expected payback period reduced to just 12 months.
New high grade targets identified in structural study.
Partnering up with experts; ACM, GR engineering, Dr. Norman, Craig Dawson.
LIS completed
Federal, provincial & local govt. support including financial commitment to build access road.
In terms of the share price, what has been holding us back is the balance sheet IMO. i.e. there is never much cash left over at the end of each qtr. The notion of having no cash at bank rattles many investors, however those in the know realise that this has always been the way IDC has operated (rightly or wrongly).
I would be more concerned if the considerable expenditure wasn't translating into results, delivering improvements to asset value and de-risking the project. But as you can see the company has been ticking the boxes one by one.
As IDC moves from a little known explorer into a developer and high grade producer (all in the next 18 months) a number of re-ratings await IMO. And I reckon the first re-rating may come with a substantial funding package, because it would allow the progression of the company's recently announced accelerated development plan and take us to the point of an ML being granted.
Fingers xxx.
Cheers Elpha
Note: my opinion and analysis are mine only and in no way am I offering advice of any kind. Please DYOR.
IDC Price at posting:
6.8¢ Sentiment: LT Buy Disclosure: Held
