Death plunge?, page-12

Hi, Pachino, IMO! The standard of the debate on IDC is now, sadly,farcical! (Not that it was ever very good!) But regarding the "Death Plunge" IDC are now in serious difficulties. Ask yourself what will happen if the adit drilling doesn't produce the results which are anticipated by the conceptual geological model? Still all the true long termers can put the share certificates in their bottom draw and wait for better times. (I would interpret that as "I shouldn't have bought the damn shares in the first place but am not honest enough to admit making a mistake.") I don't think IDC can keep the capex as low as they seem to be claiming either. Barrick have done them no favours by dint of their (apparently ) dubious mining methods particularly with respect to tailings disposal. IDC will be monitored more closely now because of Barrick's misdemeanors. IDC had put about U.S.$200m on the open cut capex, I can't envisaging them reducing capex to U.S.$70m for the underground mine , the tailings impoundment system will surely push the capex over that . IDC are operating in a rugged environment with heavy rainfall, not an ideal environment, If they propose using Oz contractors , and FIFO, it will not be a cheap mine. The metallurgical problems with the ore will reduce recovery to about 80%,or a secondary circuit will have at be built,again increasing costs. IDC have had a pretty disorganised history, why were the conceptual studies not undertaken earlier? IDC will have to discover more gold .Maybe they will find the ore. But if not they will continue to slide. BOLTA!