We have completed our DFS so spending will decrease...

We have completed our DFS so spending will decrease significantly. Go look at our register.


Back to IDC.

Last quarter over 9.6m was spent to complete the Pre-feas. Now the company will be moving towards Feasibility which means this level of elevated spending will continue.

Forecast cash outflow for IDC is close to 8m and cash in bank is roughly 14m or less post raising. With the DFS probably taking 1 year or more IDC will be constantly turning to the market for funds to complete a DFS and not production.

Good luck, investors need to realize that apart from sovereign risk, they need to deal with the logistical and geographical aspect which will mean a high price tag for completing DFS and initial capex.

In time, they will probably get to set up shop but this will be a long wait and really test retail holders.