Well, to me the arrogance is oozing... but that's just the way I read it, and who am I ? I'm just a shareholder who believed such announcements previously, such as the appointment of Sir Jonah, the man that nobody has heard from, or of, since, and the vigorous defence of court allegations by a former employee, where they didn't even show up to the court hearing... IDC are so caring of the locals that it takes them months to announce the untimely death of their key employee handling local affairs.
However, in regards to this announcement:
View attachment 162373
"IDC is appalled at the financial difficulties that will confront landowners, creditors and suppliers and the State of PNG if the project is not advanced expeditiously in circumstances where we have available the resources to commence the capital work program."
1. The landowners have been waiting for IDC for years and the creditors and suppliers are still waiting for their payments for goods and services, which from previous reports is in the millions and has been outstanding for a long time, and the DOCA wasn't going to help much, if at all.
2. "in circumstances where we have available the resources to commence the capital work program."
A big call from a company in administration owing millions, with a DOCA presented by a company recently formed, financials of which, we are yet to see.
3. and the State of PNG - Filing Judicial reviews and stiffing the locals may not be the way to go.
Maybe it's just Karma.
