Hal2000Thank you for acknowledging I have a much higher exposure...

Hal2000

Thank you for acknowledging I have a much higher exposure to the industry than you obviously have, being at the junior end of town. It always pays to be "polite" to posters - you never know what their background might be.

----------------------------------------------------------------------------------------------------------
"You say here on "Hot Copper" the Q1-Q2 IDC cash burn has left a 1.9$ million hole in IDC's accounts and IDC has almost no money left"
----------------------------------------------------------------------------------------------------------

No I did not say that. This is what I said (below) i.e. the shortfall is $1.5 (not $1.9) between what IDC SAID (not me) they would spend this Qtr and what AVAILABLE FUNDS they SAID (not me) they have. Now you might want to continue to argue the toss about this point until the cows come home, but really I have better things to do with my time.....


According to IDC's Cash Flow Statement at the end of last quarter, it had ($,000) 3,481 in the bank.

IDC also stated it intends to spend this quarter 4,900 (4,100 in exploration and another 800 in administration).

That represents a SHORTFALL between available funds and expected outflows of 1.5 mil.

So either somebody isn't going to get paid, they will revise their expenditure forecast, or they will have to raise some more money.

Doesn't get any more complicated than that.

---------------------------------------------------------------------------------------------------------

"FYI, the day to day business of a company like IDC is very much directed to things like drilling, completion of a BFC, construction of a mine, production of gold, and creation of wealth and ot so much on admnistration, there being othing to administern te absense of such activities."
----------------------------------------------------------------------------------------------------------

That may be the case, but IDC's administration costs are consistently around $800k per quarter - that's a big chunk.