Hey IDC Holders
While we wait for IDC to come out of a TH with information as to which sophisticated investors hoarded more IDC shares this week, lets have a look at the quarterly report and read between the lines to see what is being achieved.
Multiple high grade deep intercepts coupled with shorter, yet long bonanza gold and silver results!
We now have 67,000 metres of drilling completed at Mt Kare, enough to complete not only the PFS, which will be completed at the end of this month and released to the market once it has been presented to the PNG Govt and regulatory authorities, but also drilling for the BFS to be completed.
As well as a constant reminder that Mt Kare is very similar to its sister mountain, the 28million ounce gold mine Porgera....
Some exceptional grades of gold and silver, very hard to find anything like these grades from any other miner or explorer on the ASX!
With another 40 drill holes to come!
The PFS is almost completed, an incredible achievement in only 19 months since listing on the ASX!
What is more important on this page of the quarterly is the 150 person camp that has been built and paid for in this quarterly period.
Read between the lines here guys!
Do you really need 150 people to man 3 drill rigs when you have one of the best teams, the XStrata drill team running these rigs and managed by our highly experienced Mr David Meade and George Niumatawalu...?????
All roads lead to Porgera!!! We will tack onto Porgera's power line, Porgera's road infrastructure which is only 15km away!
The last New Gold Discovery is very important. It occurred 1km South from the current drill resource, I'm estimating it is somewhere near the yellow dot and line when you look at the dip and angle of the drill hole in that announcement.
The 33metres of visible gold starts 170Metres deep, which is very important, it begins to prove to the market that there is significant high grade gold under the current resource AND from the other side of this massive mountain!
Again we need to ask ourselves why George built a camp that will house 150 people at Mt Kare??? :)
IMHO, these guys are getting ready NOW for the mine construction, which helps to explain the cash burn and sophisticated shareholders continue to hoard any extra IDC shares that they can, rather than let the shares be issued to the market!
Hundreds of Drilling Assays, quality food and accommodation for the locals who are working for us, keeping them happy and part of the Mt Kare story which is very important!
And of course the gold sitting in the assays!
Now look at the size of the camp, ready to house 150 people and the size of Mt Kare! Amazing!
People are asking where did the money go, have a look at all the drilling assays we can expect in the coming weeks and months......
We are part of the birth of the next massive gold mine and deposit on the ASX! That is where the money is going and why the biggest Resource Funds are our major shareholders!
Cheers Nectar
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