idc agm summary for newbies! 2mill oz+of gold!, page-6

Hey Corporate

Yeah they have changed it to "Resource Upgrade" on the last page which is the same thing.

Investing in these miners over the years, I've learned that it is important to read between the lines when it comes to Presentations and Interviews from management.

If you watch the BRR Presentation around 3:35min into the presentation, Mr Promnitz states that they have a Canadian NI43-101 2million ounce resource. "the important thing is that Mt Kare is near a 30million ounce Porgera deposit".



http://www.brr.com.au/event/frame/89689



At 4:45min he goes on about Porgera and that it has been producing 500,000 ounces of gold per year for almost 20 years and is a similar structure to Mt Kare.

The he continues on to state that if Mt Kare was in Australia with 1-2million ounce deposits around it, you would expect Mt Kare to be a 1-2million ounce deposit.

Since it is near a 30million ounce gold deposit at Porgera, and has other multimillion ounce deposits 45million ounces at Wafi Golpu, 88 million ounces at Grasberg on PNG etc etc.

Or as I call PNG, Treasure Island!

http://www.brr.com.au/event/frame/89689

IMHO, Mr Promnitz is hinting that the potential to increase our resource is large, and so do the multi billion Hedge Funds that have invested in IndoChine as cornerstone investors.

And its based on Mt Kare being so close to Porgera less than 15kms away, with the same geology, or as Mr Promnitz states "same plumbing, heat sources and age dates etc" as Porgera.

I also liked the comment, JORC Upgrade is right around the corner.......

Cheers Nectar