Huge call Scanno! Someone will dig it out. And the relationship IndoChine has with the landowners by giving them almost 20% of IndoChine in the form of shares is strong.
We should compare Mt Kare's rich gold results below with very low grade gold mines that have been dormant in Victoria and NSW for at least 70 to 80 years that are now being recommissioned.
These dormant gold mines were abandoned not because all the gold was dug out, but because the gold that was left, was uneconomical to be mined.
Now current gold price of $1750+ per ounce has allowed mining activities to recommence in many previously closed mines.
The gold mineralisation at Mt Kare has been drilled and calculated at a minimum 2million ounces based on $300/Oz prices. Average Cash Costs for mines in PNG sit between $500-650 per ounce. We'll know whether Mt Kare sits in this rsnge once the PFS and BFS are completed.
What I am saying is that if we follow what happens to a small cap explorer's share price below, IMHO we should see a share price rise once this is converted, then again as other derisking milestones, as Bleech has mentioned, have been achieved like the PFS and BFS.
IMHO the share price wont just sit at between 15-20c then rise after the BFS which is expected next year.
The beauty about IndoChine is that Mr Promnitz has raised enough cash to proceed the project past the BFS, where normally a share placement would occur, thereby causing the share price to fall between the JORC announcement and the PFS/BFS being completed.
IDC Price at posting:
15.3¢ Sentiment: LT Buy Disclosure: Held
