greek debt issue resolved asx to lift! idc :)

Hey Fellas

This applies to the ASX and especially for our little IDC!!!

Over the last seven months, the global fear about a Greek debt hard default would cause a banking crisis causing share price compression, as you can see with Australia's largest and most profitable companies like BHP RIO and Newcrest!

These big mining companies have been making hundreds of millions of dollars on a monthly basis!

Now look at our own IndoChine. Being in the small cap sector share price compression hit it very hard. It started from when the Japanese Earthquake's hit. Then the Greek debt crisis pushed it down further.

In the meantime, IndoCHine has assembled (headhunted) George Niumatawalu and his team from the US's largest gold miner Barrick GOLD from the Porgera Mine, which has the same characteristics as our own Mt Kare.

IndoCHine has built up a JORC gold resource of 2.1million ounces eq and this was only on the back of Buffalo Gold's drilling.

IndoCHine has commenced their own drilling from November 2011 and we should begin to see these results shortly.

Indochines is set to complete a significant milestone of the PFS in 5 months.

IndoChine is set for a 2nd JORC Gold upgrade.

IMHO, Over the last 7 months, there has been significant instability in the stock markets and a rush towards cash and Bonds away from stocks, pushing down entire indexes.

Globally Super Funds and Hedge Funds have sat back to see if a messy hard default and Greek Euro exit would eventuate.

This fear will now begin subsiding and we will begin to see money inflows into global stock exchanges instead of outflows.

As stated previously, this will have a significant positive impact on explorers such as IDC who are only 5 months away from completing the gold mine engineering study, the PFS, and have drilling announcements in coming weeks with a second JORC Upgrade in 3-4 months from now.

Now the global economy will move towards stimulus measures and how to increase economic growth.

This is inherently inflationary, and the best hedge against inflation is GOLD! Ensuring the price of gold remains very very strong.

This is the sweetspot for the Australian Mining Sector!

Things are falling into place for our Baby Mammoth to life...............GO IDC!!!!

Cheers Nectar

This is just my opinion DYOR! :)

Eurozone approves massive Greek bailout deal
• AAP
• February 21, 2012 3:15PM


The deal will bring government debt in Athens down to 120.5 per cent of GDP by 2020. Picture: File
• Eurozone ministers green light €230 billion bailout
• Deal will bring Greek debt down to 120.5pc of GDP
• French bank rubbishes Aussie banks' claims
EUROZONE finance ministers sealed a deal for a massive new bailout of Greece this afternoon, including a major writedown of privately-held Greek sovereign debt, an EU official said.

"We have the essentials of the deal," the source said referring to both the write-down of Greek debt held by private creditors and the contribution of eurozone governments.

The euro immediately jumped against the dollar in Asian trading after finance ministers gave their green light to a €230 billion ($284 billion) financial lifeline, in exchange for strict surveillance of the Athens government over coming years.

The deal came after 12 hours of tense talks in Brussels, that saw Greek Prime Minister Lucas Papademos -- a former European Central Bank No. 2 -- act as go-between for ministers with negotiators for private creditors.
The deal will bring government debt in Athens down to "120.5 per cent" of gross domestic product (GDP) by 2020, a eurozone governmental source also told AFP.

This is just a fraction above the 120 per cent target set by the European Union and International Monetary Fund, and means a €5.5 billion gap in funding was reached to bring it down from an estimated 129 per cent according to the latest analysis by international creditors.

Sources earlier said that banks were readying to up their write-down by several percentage points, from the 50 per cent "haircut" initially agreed by eurozone leaders in October.

National eurozone central banks also agreed to engage in their own write-down of Greek bonds.

A report on Greece's debt sustainability drawn up by the European Union and the International Monetary Fund first discussed last week by ministers was leaked as the talks headed into overtime.

This showed that in the worst-case scenario, Greece would need a whopping €245 billion in bailout aid by 2020, the Financial Times reported.
Under "the most optimistic scenario," it said that spending cuts imposed on Greece by backers could plunge Greece so deep towards depression that a new three-year bailout would fail to provoke growth.
A senior eurozone official said that these figures were already "factored in" by ministers a week ago, but that they might have worn down private creditors led by Deutsche Bank chairman Josef Ackermann.
The target of reducing Greek debt levels to 120 per cent of GDP by 2020 was set by eurozone leaders in October, down from around 160 per cent at present.
A eurozone governmental source told AFP the nightmare scenario "probably helped in the effort" to bring the bailout package closer to achieving that goal.
The mood had been one of determination all day.
Greece, Germany, the IMF and Eurogroup chief Jean-Claude Juncker, had each maintained that a deal was do-able -- Greek Finance Minister Evangelos Venizelos signalled "a long period of uncertainty coming to a close".
But Dutch Finance Minister Jan Kees De Jager demanded that the EU and the IMF take "permanent" control of decision-making over revenues and public expenditure in Greece.
Athens faces debt repayments of about €14.5 billion on March 20, otherwise it could be classed as bankrupt.
Full delivery of the package, as well as IMF assistance, will be contingent on Greece enacting deeply unpopular spending cuts and reforms.
Eurozone hardliners' patience with Greece almost snapped over recent weeks with growing suggestions Athens could be cut adrift.

Many euro partners see Greece as the victim of decades of chronic financial mismanagement by dynastic political forces -- what Italian Prime Minister Mario Monti last week called a "perfect catalogue" of errors.
Ahead of a general election in April, the new bailout has been likened to the aid equivalent of a hospital drip after the failure of an initial €110 billion EU-IMF rescue approved nearly two years ago.

On top of €3.2 billion euros in the latest spending cuts, Greece has agreed in principle to open a blocked, or "escrow" account to ensure that aid for repayments to government creditors is set aside and not used for other purposes.