1 DOLLAR share price target

From IDA website:
http://indianaresources.com.au/projects/ntaka-hill-nickel-project-2/

Indiana’s exploration work at Ntaka Hill has primarily targeted resource definition in support of near-surface, open pit mining opportunities that has resulted in the discovery of a number of mineralised zones. The Ntaka Hill global mineral resource announced in August 2013 is shown below:


Further drilling by JV partner extend the reserves
MMG’s Stage 1 diamond drilling program consisted of 8,065m and while mineralisation was intersected in several boreholes, the drilling did not generate the style or scale of mineralisation required by MMG for project development. Key results of the Stage 1 diamond drilling program included:

• 7m @ 1.10% Ni and 0.41% Cu from 218.3m (NAD14-394);
• 75m @ 0.85% Ni and 0.20% Cu from 237m (NAD14-394);
• 14m @ 1.04% Ni and 0.21% Cu from 314m (NAD14-401); and
• 7m @ 0.72% Ni and 0.32% Cu from 101m (NAD14-394).

This Nickel project has been explored, JORC, FS completed and with 100 million AUD spent already.
And this Nickel project only has larger Ni reserve than PAN's Ni total reserve. PAN has the market cap ~100M AUD; IDA now is at ~3.5M; IDA has cash ~700K plus ~500K tax incentives to be received this quarter, so the cash only is already ~1.2M.
IDA has prospective gold project as well.
I see this as the most undervalued Nickel player.

Rgs,
wubing