Not a lot more to add to TN's posts other than that I worked out not long ago it costs roughly $50k per week for IDC's general admin. They had $492k at the start of the quarter. There was the LIS boundary walks etc. in Jan. to add to the expenses but am not aware of any hugely expensive surface drill rigs being utilized during this quarter, only the relatively light but essential work currently being carried out at the adit.
As they are apparently excavating the first 75 feet of the adit mostly by hand so that the grouted cores supporting wouldn't be damaged by machinery, I wouldn't have thought that this type of work would be massively expensive.
It's the next quarter's expenses that should increase significantly when they'll be ready to proceed beyond the 25m mark of the adit and begin chewing rock with a sandvikk jumbo at a serious rate of knots. Then we also have the commencement of surface drilling at the newly identified 500m long zone to the south to look forward to.
Cheers Elpha
Note: my opinion is 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
