comparing bonanza gold results idc vs gry

Hey Guys

As we wait for more information about the PFS and drilling results, it is important to compare IDC's market cap at $60m to another explorer/developer GRY that has a market cap of $440million.

At the end of the day, it is about the mineral ore that is in the ground. The quality and quantity of the resource that will build value in the business, hence Market Capitalisation.

GRY has an inferred 2million ounce gold JORC Resource, which is all Inferred.

IDC has a 2.1million ounce gold JORC Resource, but 30% of it, or almost 800,000 ounces is in the Indicated Category.

Lets compare Gryphon's high grade drilling results to IndoChine's high grade gold results that were drilled by Buffalo. (The first of IndoChine's drilling results are expected to be announced from next month.)

You can see in the drilling diagram below there are numerous narrow thickness high grade gold results at GRY's gold deposit.

2 metres of thickness of the drill core @ 36.48grams/tonne of gold
3 metres of thickness of the drill core @ 25.01grams/tonne of gold
6 metres of thickness of the drill core @ 49.99 grams/tonne of gold
4 metres of thickness of the drill core @ 25.75 grams/tonne of gold

Very good gold grades by GRY, no doubt! Now compare those grades to our Baby Mammoth Mt Kare.......

Circled in Red below:

21 metres of thickness of the drill core @ 444.00 grams/tonne of gold

25 metres of thickness of the drill core @ 23.00 grams/tonne of gold

12 metres of thickness of the drill core @ 174.00 grams/tonne of gold

18 metres of thickness of the drill core @ 21.00 grams/tonne of gold

Let alone deep bonanza gold results which is important to remember when the 2nd JORC is released in 3 months time!

Circled in Yellow below:

59 metres of thickness of the drill core @ 12.00 grams/tonne of gold

44 metres of thickness of the drill core @ 4.2 grams/tonne of gold

As well as the bonanza gold results that IndoChine is currently duplicating In Yellow Below:

A MASSIVE 87 metres of thickness of the drill core @ AN AMAZING 27 grams/tonne of gold!!!!

THAT IS THE AVERAGE GRADE (27g/tonne of Au) OF GOLD IN GRY'S 3-6 Metres high grade gold results BUT IN OUR CASE IT RUNS FOR 87metres!

And an excellent 67.5m of thickness of the drill core @ 4.0 grams/tonne of gold!

Now have a look at these additional BONANZA results at Mt Kare: (In Red Below)

15 metres of thickness of the drill core @ AN AMAZING 148 grams/tonne of gold!!!!

AN INCREDIBLE 1.5 metres of thickness of the drill core @ AN AMAZING 1450 grams/tonne of gold!!!!

34.5 metres of thickness of the drill core @ AN AMAZING @7.2 grams/tonne of gold!!!!

Now compare our Market Capitalisation of $60mill to Gryphon at $440million!

Why do we have this differential in pricing?

1. GRY is close to completing the BFS and has completed their PFS a few months ago.

AND

2. IDC has yet to announce to the ASX their own drilling from the current drilling program.

IDC stated in their annual report that there will be news about the PFS in February 2012 and the first of the high grade drilling results, that George and his team is duplicating as I write this, will begin announcing from March 2012!

Gold JORC Upgrade in June 2012 and PFS in August 2012.

IMHO, As the market becomes more aware of the quality and quantity of our Gold in Mt Kare, as we get closer to the completion of the PFS in 5 months, as we increase the JORC Resource and expand the Indicated and generate a Measured (or Reserve) Gold JORC resource as we head into August/September, we are set for a very very exciting time.

Cheers Nectar