BlogI think we should bear in mind at all times that the project...

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I think we should bear in mind at all times that the project to be mined is not "IDC" but “Mt Kare”.

“IDC” is the ASX ticker name of the company (Indochine Mining) holding the project.

Mt Kare will be mined when, inter alia, all boxes are ticked, not just those you refer to in your comment.

Quite properly you do acknowledge and confirm that to have a mine there must be infrastructure and that much is currently being contemplated by the company and the Independent State of PNG.

What the recent announcements do indicate is that IDC can now start to devise scheduling permitting selective mining (whether by open cut, sub-level stopes) of high grade dirt permitting an economic operation for the planned LOM.

The company has properly foreseen and responded to the current economic state the gold industry is in and n that context it is a bit naive to think that the company would intent to raise finance on the basis of a simple rational that "this bit is very profitable and we expect to find more going forward".

It's a fair bit more complicated than that Blog.

Nor is their from what I can see, any basis for you concluding that the resource will not grow through further exploration, all the anecdotal evidence is that Mt Kare is very much likely to grow over its LOM, which is a very normal process, and it is (in deed) another system identical in all material respects to that at Porgera.

The point you seem to have missed entirely is that the latest announcements have demonstrated a compelling justification to moved the Mt Kare project toward the front of line of would be gold miners coming on stream in the next 24 months or so.

I am sure that management at IDC have all the matters you raised firmly in mind.

After all, that is managements role and obligation and over the last 18 months they have delivered on their undertakings by increasing both head grade and volume.

Being a holder of gold stock in these times takes real acumen, courage and conviction and their is no shame in your selling out your position in IDC stock.