Hi All,IMO! Lots of overly bullish stuff posted on IDC. For a company with their dismal record quite surprising. IDC canned their proposed open cut at a gp of US$1600s and now propose an underground mine when the GP is about US$1200 , Considering that they haven't significantly increased the resource it looks a trifle suspect IMO . They are hoping to find a Porgera type deposit, problem is their current deposit has a grade of less than 25% of the high grade Porgera fraction and a much smaller tonnage , hardly warrants reference to Porgera at this stage. IDC is clearly not a low cost producer, the original indicated that .Metallurgical problems with the primary ore indicated a 10%+ loss in processing greater than expected. I doubt whether the mining costs suggested by certain bullish posters are realistic,The N.T.explorer ABU are quoting recovered mining costs of A$690-750 for their open cut. ABU's head grades are 11-13g/ton gold(superior to IDC's grades) in a classic low cost open cut. The deposit will be no deeper than 35m. after 5 years . IDC still haven't finished the adit drive so ,at present IDC hasn't much to show for all the money outlaid to date. Even if IDC get legal entitlement to Mt. Kare [which ,at this time is not certain ] I am of the opinion IDC.is kaput. Even the true believers must recognised IDC is a shambles," How not to run a company". BOLTA!
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