IDC 0.00% 0.0¢ indochine mining limited

janusThat is almost correct, The EL holder has the right to...

  1. 168 Posts.
    janus

    That is almost correct, The EL holder has the right to approve / refuse alluvial mining. Without their approval any attempts to undertake mechanised alluvial mining would be almost pointless.

    However, one must look to the past to learn the lessons of what can be possible frictions resulting from denying LO's access to their alluvial resource.

    They own 100% of under the mining act - they are entitled the retain 50% under a joint venture.

    Every Minister over the last two decades has encouraged them to seek JV with any interested developer. This resulted from all previous EL holders denying/ refusing any mechanised alluvial mining to be undertaken.

    What must be understood here is that the owners of this land have been denied access to what they own. The Mining Act leaves them no option but to wait for the EL holder to complete their activities and seek a larger company to develop the project. Two decades and they are still being told to wait.

    In two decades I have seen more than a dozen attempts by landowners and their proposed developers to seek approvals from the EL holders, all were denied. That resulted in the court cases and bad blood on the mountain.

    Ace, Rockwell, 888, Siburan, local companies, Listed companies, Chinese, American and countless Aus companies have been invited by LO's and government over the years to work the alluvial areas outside of the EL holders main area ( drilling/hardrock areas).

    These 'invaders' as you call them were endorsed and supported by many different Ministers over the years. Ramsgate started their days as the same. They were the first to attempt alluvial after CRA had left. Carpenters and Ramsgate spent years in court testing the Mining Act until it was settled out of court and sold out to Westgold then MMR.

    Even after these years the problems continued with landowners and their alluvial aspirations, and as we stand here today little has changed.

    The answer is simple, it always was!
    Just let the people do the Alluvial mining. They are the full bottle on the subject and have endless potential JV opportunities. All they need is for IDC to grant them approval.

    Or better still, IDC should partner up with the local and do it together.
    the PRO's are-
    build relationships with the local naysayers
    allow locals to receive much needed money / development/ health/ food etc
    better understand some geology
    good reason to get some machinery on-site
    build a road/track to cut down chopper costs
    now more heavier cargo can be freighted in
    some revenue to come back to IDC or direct to holders as a dividend! yeah!!
    improve the medical situation on the mountain and areas
    end the feud and hostilities
    fresh subject matter for Nectar to use
    remove the top layers before the hard rock begins in the future
    get rid of any future threats caused by the subject
    end Jack's annoying crap!
    etc etc..



    But most of all it should be done because it is the right thing to do for the people. After all it is their resource that allows people here to make money.
    drilling holes in the land allows the money to flow around. A good way to say thanks would be to let some of that money get their dreams off the ground.

    It would be a great way to start a long and prosperous future together.
    Its 2012 it is OK to be fair with the natives don't you think?

 
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