please write to ceo & chairman of idc on this, page-18

Lightforce
I think we must (firstly) be prepared to throw the Prefeasability numbers out the left hand side window for a start.
This NEW DISCOVERY changes the entire game.
Specific gravity of this dirt is, I understand, about 1.7-1.8.
You seemed to have "krieged" the grades but the methodology you used is fine.
I got to the same result using a different model, but sans krieging.
I have about a 1,000,000 oz in the top 130 meters of the BZ.
In other words, you aint wrong.
Assume and repeat for the other Bonanza Zones.
This would make the inevitable dilution (I think 40-50%) utterly meaningless.
Saw this with Regis 2007-2009.
They diluted from 1.8 billion to 450 million shares.
At the time of dilution Regis was trading at less than 15 cents.
Eventually, after dilution and start up of the project, they went to 50 cents and eventually, in 24 months, to 5 bucks.
FIVE BUCKS!
So, Regis divided the share script by 4 and then multiplied the share price by 25 times (and later, with Garden Well, +50 times).
IDC wil start off with MUCH bigger numbers than Regis and is a far more advanced project relative to the period over which it has been in the IDC portfolio.
IDC, I suspect, will probably do a 2-1 reduction and still also have a huge multiplier.
It will also most probably have double the oz in reserve to that Regis had.
an extra 1,000,000 oz in reserve.
Big picture, more gold, cheaper production costs, higher cash flows, higher IRR.
As predicted.