Hey IDC Holders IDC held their AGM yesterday and provided a...

Hey IDC Holders

IDC held their AGM yesterday and provided a Market Update on the summons currently in place and has confirmed that it doesn't affect the ongoing operation of IDC, hence the company's upcoming Funding for the Adit Construction and Drill out is still going as planned (See article at bottom).

Mr McVeigh and Sir Samuel Jonah will continue with this process, while the Landowners sort out the profit weightings, as described in the LIS/LIR.



IDC confirms that the Court has not made any ruling to the validity of the LIS and LIR, and that discussions are in place between the Landowners regarding the profit sharing weightings need to be amended.

This is why the George Niumataiwalu and his team completed the LIS and LIR in the first place.

To put in place processes and procedures for revenue sharing of this incredible Gold and Silver Deposit, if any revenue sharing percentages(weighting) questions regarding the revenue sharing needs to be looked at, the LIS and LIR provide the process for this.

To avoid what has happened to other Mining Projects in PNG for the last 40 yrs. This is up to the Landowners to sort out, which they are. It isnt going to affect the rest of the operations of the project, including the funding.



We just need to let the company continue to Bring Mt Kare to life! Step by Step!





Cheers Nectar