Higher gold price will result lower cut-off….and if you like the...

Higher gold price will result lower cut-off….and if you like the term , an resource upgrade …

Enter the daily gold price with other variables of the formula to calculate the cutoff into a spreadsheet, you will get a resource upgrade or downgrade everyday …

It is the other variables that are important for the project, and most of these variables will not be determined before the DFS.

Whatever upgrade they come up with by entering the higher gold price into the formula, may look good to some people, but at the end of the day, unless they can provide us with information to calculate other variables, the gold price alone shouldn’t de-risk the project much…

I guess with the resource update, the company will update us with a bit more details in term of the structure of the materials which are valuable information. But, further drillings and pre-DFS will seriously de-risk the project, as these will give us a much clearer indications of the other variables to calculate the cut-off. That cut-off will be the break-even of the project which will determine future profitability.

The share price will go up hopefully, but as I explained, further drilling results and associated studies will seriously derisk the project, not so much of gold price as it is a known variable.

I am a shareholder as I believe IDC is undervalued. And I am willing to take the risk for the future rewards. But, without we know all other variables, it is still a risky investment. Even if we know all the variables, mining is still a risky business. I am not down ramping…