Hey IDC HoldersOver the last two to three weeks we have been...

Hey IDC Holders

Over the last two to three weeks we have been discussing the importance of the Bonanza Silver Zones, of which we will see 23 drill holes announced before the end of the month. The silver credits have the ability to significantly reduce the Cash Cost of producing the gold bullion as it did for Andean Resources.

And the Bonanza Gold Results have the ability to significantly increase the Gold Resource and significantly increase the first 3-4 yrs production of gold from the same capital equipment.

While we wait for these High Grade and Bonanza Drilling Results, something very positive just popped up via a Google Search!

The Landowners at Mt Kare have called the PNG Govt to issue a Mining Permit to IndoChine Mining to commence mining in 2015. Mt Kare is year behind Hidden Valley, Porgera, Lihir from being developed, but in a little over 2 years since listing on the ASX, IndoChine Mining has been able to accelerate the Mt Kare Gold project, with the major milestones about to be unleashed onto the ASX.

After years of little to no development in the area, while they have seen Porgera, Hidden Valley, Lihir landowners and locals prosper with the Porgera Mine, they want the same for themselves.

The Granting of the Mining License by the PNG Govt will be one of the major derisking milestones of the project, and it can only occur with the blessing of the Landowners, which we have!

Cheers Nectar

http://www.emtv.com.pg/news-app/item/lo-s-call-for-indochine-to-mine-mt-kare

LO’s call for Indochine to mine Mt Kare

on Friday, 15 February 2013. Posted in News
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LO’s call for Indochine to mine Mt Kare

The Mt Kare Gold project is a long way away from producing its first Gold bar but the people believe this may happen in 2015.

The landowners are optimistic the government will grant a license to Australian company Indochine to begin mining operation. Indochine was in the area since June 2011 and has already commenced drilling.

Mt Kare is an alluvial gold mine located 15km from Pogera Mine-one of the world largest gold mine. But unlike Pogera gold Mine, Mt Kare is a long way behind in operation and production.

It’s long and colorful history marred by violence. The people now line the streams panning for gold earning K2000 to K3000 daily. But they are rich yet poor.

The bulk of the population are uneducated and the area underdeveloped.

They are calling on the government to issue license to Australian mining company Indochine for mining operation to begin in 2015.

The company currently based in the area has already completed a pre-feasibility study costing K65m.

From initial assessments Mt Kare is expected to produce 100 000 to 160 000 ounces of gold per annum. In monetary terms about AUS$200 m a year while AUS$2 billion in eight years.

Governor Peter Ipatas is pleased with the progress of the project and assured Indochine of his governments backing.

Mickey Kavera, National EMTV News