new issue 22nd jan, page-2

tradesido,

Although they have a few extra shares on issue and a few extra dollars to spend, from a fundamental point i don't see the sp changing to much.

If we agree that IDC has 2.13 million Oz Au eq. (numbers are taken from the resource stated on their web site).

from a basic IGV,

2.13 million Oz Au @ $1600 * 2.5% = $85 million, similar to current mkt cap.

(you may chose to use a different multiplier % 5%?)

or

2.13 million Oz Au @ a valuation of $40 peer Oz = $85 million, similar to current mkt cap.

($40 Oz peer comparison is completely subjective, not all ounces are equal!)

my point is that while the assumptions used here are my own, nothing has really change, there is still 2.13 mill Oz eq in the ground in some remote location in PNG.

unless there is some change in the resource, or a serious advance from explorer to developer to miner, or stellar results coming out, or people eating up blue sky, or take over. In the short term the fundamentals are still the same imo.

It will be interesting to see how the resent capital will be spent though.

from a short term trading point, i have no idea what the sp will do.