Hmmm, was looking like another quiet day until one or two...

Hmmm, was looking like another quiet day until one or two traders triggered a late sell off, less than a minute before the close.

At 3.59pm you could see the stop losses kick in all the way down to 6.3c, albeit a on relatively low volume day.

Couldn't resist topping up at that that point. The stop losses were like dominos & the bid sell gap it created (0.7c) combined with low volume and no news suggests it was well....much ado about nothing.

As long as we hold above the mid 5s I don't see the need to be overly concerned from a technical perspective and will continue to buy on any weakness without volume.

Much more important than current technicals however is the upcoming announcement on funding and it should be any tick of the clock, maybe between now and the end of next week if I were to take an educated guess.

In the meantime I figure there's really no point in getting stressed about the presumption that IDC currently has very little or no cash at hand, that is based on what the market already knows from previous announcements and what outsiders doing the sums are warning.

Why? Because where there's a will there's a way to find cash and Promnitz's ability to repeatedly secure funding for a company that once posed a greater risk to financiers than it does today (i.e. before it had 500,000oz at 10g/t and a LIS under its belt) is IMO a testament to his track record.

Therefore I see no reason for sudden failure on his behalf. Given the milestones the company has achieved thus far, their high grade low cost model, the improving outlook on gold and the short payback period on a relatively low projected CAPEX, IMO it should now be just a matter of determining which is the best option for all stakeholders, and this can only be achieved through appropriate due diligence, which obviously takes time.

So as we wait for possibly one of the most anticipated announcements in the history of the ASX, it's important IMO to remain calm in the interim and review one's rationale to maintain a clear & level head. i.e. what was my set of reasons & logical basis for my course of action or belief, and what has changed since?

The moment of truth is nigh.

Good luck to all, whatever your position.

Cheers and very best regards,
Elpha

p.s. my opinion is mine only and in no way am I offering advice of any kind. Please DYOR.