Hey IDC Holders
We really need to remain focused on what IndoCHine is doing here. It is easy to sit back and complain about a CR, but the name of the game is all about increasing the JORC Resource, while completing the PFS, which will be done in 3 months.
THIS WILL SIGNIFICANTLY LIFT THE SHARE PRICE OF IDC GOING FORWARD!
There are dozens of small cap explorers with 1-3million ounces of gold JORC Resource!
There is only one Gold Miner with more than 6.5million ounces, which is the figure Mr Promnitz was touting in his late February IDC Update Presentation....NEWCREST! We have the opportunity to have the second largest JORC Resource on the ASX in IDC continues with their aggressive drilling program that this CR will be used for.
We need to look at the big picture!
We know Mt Kare has millions of ounces of gold in it! IndoChine just needs to continue to drill and build up this resource as the PFS is completed.
If the instos buy into this CR, then you know there is serious money to be made.....:)
The reason for this CR is to increase the JORC Resource via aggressive drilling program and to drill deep into Mt Kare to see how deep our mineralisation really goes.....
Mt Kare sits right next door to a 28million ounce gold mine Porgera, and we have the same mineralisation as our sister mountain!
This next diagram clearly shows that we are not currently getting good bang for our buck since we have not completed the PFS. $30/Oz Market Cap shows there is a lot of upside. With Mr Promnitz expecting to hit $100/Oz once the PFS is released.
Why not then complete a small capital raising to be used for aggressive drilling to lift our JORC and our share price even further than with a 2.1million JORC Resource?
This next pie chart shows that we have the world's biggest Resources Funds invested in IndoChine. Ask yourselves why would they be invested in IDC????
Mr Promnitz and his team have been able to head hunt the best project Manager in PNG, George Niumatawalu, who brought Hidden Valley to life 8 years ago.
We have David Meade our head geologist who has worked for PANAUST and Oxiana in SE Asia. John Shaw, who has worked for Barrick Gold for 30+ years all now working for us.
We have won the Discovery of the Year Award in the Mines and Money Conference in March 2012. For IDC to win this award when there were over 300 Australian Miners and Explorers presents is a HUGE TICK OF APPROVAL BY THE INDUSTRY.
The most important KPI that IDC management have achieved since it took over the Mt Kare project, is to ensure the Landowners in PNG have been looked after.
It is their land after all. With $4million upfront payment, as well as 86million shares or almost 19% of our shares being held by them, they are clearly keen to see Mt Kare get to production.
The high grade drilling announcements should start next week from the look of IDC's timeline below.
This CR is a necessary evil, it is easy to sit back and complain, but this in the medium and long term is the best way forward to amplify our gains once the PFS is released in as little as 90 days time.
I suppose if you aren't happy, we do live in a democracy, you can vote with your feet. FOr me, I'm staying on to see the benefits of these milestone achievements.
Cheers Nectar
Hey IDC HoldersWe really need to remain focused on what...
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