Oh dear - the ugly past, page-12

hi scanno

ive just returned from nz and I read Indochine's update from last month.

http://www.indochinemining.com/latest-news/company-update-with-ceo

I read these two questions.

is rodin close to leaving for mt kare?

Q4: How are the on-site development activities progressing at Mt Kare?

The recent capital raising gives us some capacity to continue the planning of the development
drive while further funding discussions are continuing. We are also continuing discussions with
the team at Australian Contract Mining, who will be undertaking the work on the development
drive and associated drilling activities in due course

scanno does this below mean the company is completing the final landowner investigation report, bankable fesibility study on the high grade gold zone while these discussions for a jointventure partner continue?

Q7: Looking ahead, what are the next steps for Indochine and the development of Mt Kare?

Our immediate focus is to continue negotiations with potential funding partners as efficiently and
effectively as possible. While we work to finalise a beneficial outcome for shareholders we will
be continuing with the completion of the LIR and commencing feasibility studies on the high
grade (+10g/t Au) portion of the deposit.

Whilst we understand that this is a frustrating – albeit short term – period for shareholders, we
are working hard to achieve the best outcomes and create maximum value.

What I can say is that the Mt Kare project’s value has not diminished, it still holds enormous value and undiscovered gold ounces, it is in a part of the world that is attracting significant foreign
investment, and we are confident about the project’s future.

The Company looks forward to providing shareholders with further updates in the near-term on
both the progress of funding discussions and development work at Mt Kare.

ta kiwi