IDC holder - I completely respect and appreciate your enthusiasm...

IDC holder - I completely respect and appreciate your enthusiasm in relation to Indochine. Yes they have some great prospects (so do hundreds of other small cap miners on the ASX)..

The predominant short - medium term issue that i see with Indochine is the lack of funds and expected level of dilution in the upcoming 12 months. In a high cost area such as PNG $7m per quarter is a significant level of cash burn lets not kid ourselves. Essentially they will again be raising cash in March to sustain their level of spending.. One of the other reasons for the depressed price is the level of overhang of shares released from Escrow to seed investors (approximately 80-90m shares).. As a seed investor you have been waiting for several years to get your cash - you wont really worry if you are selling for 15c or 8c as long as you can salvage something.

Furthermore their current (not speculating on future) level of resource is nothing special / Australian based companies with double their current resource are valued at similar or lower levels..

Also large holder selling out (im sure they have their reasons) doesn't look right for a company who is apparently on the verge of something great..

All im saying is stay level headed with this stock as there are many variables, much dilution and a significant level of capital required to get it off the ground. This is not a downramp but i see significant downside to the price and valuation for the fore mentioned reasons.

Im a current shareholder but concerned about the future.