Indochine Mining (IDC): Company is completely undervalued, as it was only listed a year or so ago (Dec 2010) and doesn’t have an JORC compliant resource yet, though it does have 2m ounces of gold but it complies to the Canadian code, a resource 'upgrade' JORC compliant is around the corner and it should identify at least 2million ounces. Currently the company is worth about $80m, it’s aggressively moving to get this project into development with a PFS and BFS coming up right away.
with 2million ounces and targeting 150,000-250,000ozp/a production, it has the exact same traits as both AMX and GRY who both are sitting at market caps of $350-400m (IDC only $80m) when the JORC compliant resource comes out I’m sure there will be significant movement, but there should be movement over the next year or so and will outperform many stocks. (Should at least) Has 2 main projects, one in PNG and the other in Cambodia. Its website http://www.indochinemining.com/ has a MISSION STATEMENT THAT STATES: "To replicate the multi billion successes of Kingsgate, Pan Australia, Oxiana and Oz Minerals in the development of a major new gold and copper province"
And has a huge institutional shareholder base and is heavily backed.
Has moved from about 12c to 18.5c in the last couple of weeks, a move to $1 isn't out of the question once Resource is defined and upgraded along with PFS results (which are about 9months away)
This isn't as risky as a lot of the 'oil and gas' explores mentioned above, and an increasing gold price wont hurt its chances of getting that 10-bagger.
