jorc, page-4

Hey BlueThunder

As Surley stated delays with equipment, including choppers would have had a big part. IDC had to prepay to ensure they had adequate access to the choppers.

A lot of small and mid cap miners and explorers have had significant delays with drilling and resource calculation/measurement on the ASX and even TSX.

Its nothing unusual, we just need to continue to go back to presentations, quarterly & annual reports to work out an estimated announcement date.

The pic below is a cut and paste from their audited annual report. Early in Financial Year 2011-2012 IDC will announce their JORC converted resource. And in yellow, I have highlighted "a resource upgrade".

So we have 2million ounces at $300/Oz. Other explorers with a 2million ounce resource have a Mkt Cap of $300-350million. Our Mkt Cap is at $75million.

Assuming we get ZERO resource upgrade and ZERO additional gold found from the current drilling program and only convert the 2million ounce resource NI43-101 to 2million ounce gold JORC resource, we should see a Mkt Cap and share price rise to better reflect this official resource.

Below is the resource table, where IDC has taken from Buffalo Gold's presentations when the price of gold was $300 per ounce.

Buffalo/Madison spent 10 years and $75m drilling 340 drill holes to build this NI43-101 resource. And this resource is harder to define than our own JORC Resource.

The NI43-101 is defined by Canada's equivalent of ASIC, ours is defined by the ASX. Less stringent.

Check out Mr Promnitz's presentation in July! Very Exciting! My fav part is when he states he will be using a gold price of $950-1000 per ounce, as opposed to Buffalo/Madison that used $300/Oz!

http://www.abnnewswire.net/press/en/68238/Indochine_Mining_%28ASX:IDC%29_CEO_Stephen_Promnitz.html

In terms of where the share price will rise to, we can only compare IDC's Market Cap to their gold explorer peers!

Having read their annual report, it seems the recent drilling has encountered some exciting results, since IDC knows where to drill because Buffalo has done all the hard work for them......

Look at these drilling results!

Now we should revisit to what happens to a small cap miner as it achieves certain milestone events.....

Again, this is just my honest oppinion, based on announcements, Quarterly and Annual Reports and video presentations made by IDC. As well as my experience with small cap miners.

The statement below gives me a bit of guidance that we should expect this JORC announcement before Christmas 2011......:)

Cheers Nectar