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IDC - Indochine Mining

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basilio
The gold markets have been absolutely appalling over the last 24 months.
I blame the ETF's for interfering with bullion producers (but I think thats changing as we speak)
In fact the ETF's run a book on gold but all they can offer is paper.
I read the other day that only 5% of all ETF contracts are supportable by bullion.
The fact of this, when considered against world supply for what t ecal "physical gold (what most people just call gold, its either gold or its not!) is that in fact gold should be some where near 20 times its present cost BUT FOR ETF's.
Thats whats interesting about the litle dip in gold the other day.
Its demonstrated that more than half the world WANTS real gold, not these bits of paper.
 
The quarterly report just showed how much value there is in the gold and silver lodes. The Bonanza lodes are also looking exceptional. Check out the website for details on their progress

I think at 4c it was ridiculously under priced and the value in the shares is being re discovered.

(Mind you I wouldn't be surprised one bit if the shares do retrace and the last few days proves to be driven by short term trading rather than longer term investing.)


http://www.indochinemining.com/home
 
This company needs to get a PR person who can make some sense. The info in their releases can be quite ambiguous and confusing. If I understand tonight's release, instead of raising up to $20 mil through a placement they only raised $3.4 mil (including to PNG landholder groups) because they have been approached by an investor wanting to enter into a joint venture to take the project to production. So they've held off on issuing what they had originally planned to via the placement and are in talks over this joint venture partner taking a "cornerstone" placement.
 
Agree with the sentiments here, their announcements are relatively vague and poorly written. I still believe in these guys, have bought down to .040c and just sit back and hope for the cornerstone investor announcement, could be tempted to getting a few more at .020 if it gets there.
 
I don't have faith in the management. The only people to have made money are management and the broker who has handled the capital raisings who I believe is on the board (or their brother is or something). They are probably the only people who will ever make money out of the current entity. It might just all be bad timing but the last capital raising and the yet to emerge cornerstone investor fiasco and the share price plummet ever since is a disaster. Yet the CEO keeps pumping out spin about developing the mine that I doubt will even come to happen.

I did most of my money on this one and got out with a hefty loss at around $0.027 To think I was in the money a few months ago! It was a pure punt and it blew up in my face.
 
Never a dull moment thats for sure.

The board has been cleared, announcement today they've managed to borrow another $1.15m whilst they continue to search for further investment t keep things moving.

Agree that it is hard to have faith at this stage but I bought in at a relatively low price (0.040) so am happy to see how the new board handle things. I guess thats why its called risk hey!
 
Technically, IDC has been showing support at 0.023 and resistance at 0.040 price range. Got upgraded to a buy at au stoxline.
 
Encouraging announcement yesterday, relocating the offices to WA to be closer to the project and cut down costs.

Dermott McVeigh cleaning out more administrative deadwood and they look to have straightened up.

Hit a high of $0.034 up from $0.027 due to the news, one to keep an eye on
 

Agree, funny what happens when you throw out the dead weight the ship seems to sail smoother.
 
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