Just had a read of IDC's Annual Report and definitely enjoyed the read!
Overall it was a rehash of what has been achieved with the acquisition of Mount Kare and drilling team setup there, as well as the Cambodian Drilling Campaign which is on the way.
There are some very exciting facts again that will bring early positive share price movements in the CEO's Report which I thought I'd highlight below:
The Canadian 1.9Million Ounces of Gold/Silver Equivalent on page 8, See Table Below was calculated by the Canadian Buffalo/Madison over 10 Years and they spent $75m drilling 340 drill holes to build up this resource. But the beauty about this is the 1.9Million Ounce Resource was calculated when the price of gold was $300 per ounce.
As we have heard from presentations completed by Mr Promnitz in July, within 3 months IDC will complete the NI43-101 1.9Million Ounce Resource to JORC at a price between $950-1000 per ounce. This allows a lower cut off grade of gold, hence increasing the JORC Gold Resource.
IndoChine has also been drilling since August at Mount Kare, check out the Photo of the Helicopter transporting drilling equipment to Mt Kare in the background! :)
And I like the sound of "some exciting results are anticipated....." in the passage below!
They know where to drill because Buffalo and Madison did all the hard work for 10 years drilling and finding massive bonanza gold ore assays! Check out some historical Bonanza drilling results by Buffalo in the past (Previous IDC Preso)!
INCREDIBLE! Gold Strikes like these definitely make it in the news! 444grams per tonne??
The best fact about IDC is that NONE the 1.9Million Ounce Gold Deposit that they is reflected in the current market cap because it isnt JORC Compliant yet....but not for long!
We should get an announcement soon enough......JUMP ON and HOLD ON!
PNG should really be renamed Treasure Island!
IDC Price at posting:
16.8¢ Sentiment: LT Buy Disclosure: Held
