Well apparently there is movement at the station that can be reported once confirmed by a couple of other sources.
Perhaps the board is now entertaining what should be done with the minnow. This can only be good!
My comments are not in any way intended to cause distraction or negative attitudes towards IDC.
I/we have been an investor on the back of good recommendations and do believe that Cambodia has great opportunity, however, when a company has an asset like Mt Kare that needs the cash, why continue to put valuable funds there??
The figures I have quoted are not only comments made to me, they are on the record. Excessive packages for what is basically a mothballed project are to be criticised.
Additionally, the costs of continued exploration and drilling campaigns are also public. The results of this expenditure dont seem to be. Fairly simple exercise to clarify what is spent with drilling and ongoing exploration and thus I dont see the need to criticise my comments when the net result is assisting to keep the price down and other none favoured insto's out.
It is quite clear that the emphasis must be PNG and not Cambodia. I am all for retaining the assets, but not at the cost to additional progress where it is needed. This is where sensible companies mothball longer term, capital intensive projects or get rid of them.
My previous comments were made with multiple sources of info that are to be believed including the reputational ones.
It is my opinion that if the Co can cut the outflow to Cambodia that is not going to be productive in the foreseeable future, its bottom line will look a lot better to all investors. This is a view shared by several senior Geo fund analysts, so feel free to criticise, but there will be a lot more interest in IDC when the money pit in Cambodia is filled.
IDC Price at posting:
15.8¢ Sentiment: Buy Disclosure: Held
