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IDC - Indochine Mining

Discussion in 'Stocks I-P' started by System, Jul 27, 2010.

  1. System

    System Administrator

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    Indochine Mining Limited (IDC) is the parent of a group of six (6) companies that collectively make up the Indochine Group. The Indochine Group was established for the special purpose of acquiring highly prospective mining and exploration projects for precious and base metals in South East Asia.

    Indochine Group is the largest mineral concession holder in The Royal Kingdom of Cambodia.

    Indochine Mining Limited lodged its Prospectus with ASIC on 18th June 2010.

    http://www.indochinemining.com
     
  2. Dinipants

    Dinipants Member

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    Just saw this on FNN, they managed to raise $20.1 million for drilling, and are undergoing exploration over the next 6 months in promising region, doing the ground work (soil sampling).

    Apparently it's been operating since 2006 and just made its debut on December 10th, so I think this is 'ground floor' but I'm not too sure haha, I've only been trading a few months.

    Anyways, I checked here and the thread was lacking to say the least :p. So I thought I'd post up
     
  3. basilio

    basilio Well-Known Member

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    Very compelling story in The Age by Garimpero on Indochine. It seems they have picked up the rights to the Mt Kare gold mine project in PNG. Apparently this mine produced 1 million ozs of alluvial gold in 1988-9. Since then a Canadian company assumed title and assessed a 1.7 million oz of gold as a hard rock resource. It's fallen into Indochine hands because of the GFC financial crisis.

    http://www.theage.com.au/business/back-to-that-gold-in-the-png-hills-20110306-1bjfk.html

    Understandably there is already very strong buying pressure.

    Disclosure. I hold.
     
  4. basilio

    basilio Well-Known Member

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  5. McCoy Pauley

    McCoy Pauley Get out of here Budweiser!

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    Robin Bromby in his "Pure Speculation" column in the Australian also wrote (briefly) about Indochine Mining, I noticed.

    It's not often that both Barry FitzGerald and Robin Bromby talk about the same company in glowing terms.
     
  6. mr. jeff

    mr. jeff Well-Known Member

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    yeah you are right, it almost seems very fishy.

    This company may be in for a bit of a trot, the Friday release listed below by Basilio (thanks) is extremely convincing as to their potential; quote from that -

    Obviously if they can get the JORC compliance happening this year that would re-rate the resource and their market cap would have to reflect that in quite a significant way.
    This almost seems too good. But I hold this stock.
     
  7. So_Cynical

    So_Cynical The Contrarian Averager

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    A bit of googling turns up quite a bit of info on the Mt Kane deposit.


    Ill quote from the Madison link

    So its a very well drilled project that clearly has alot of gold and silver spread over a hell of alot of ground, 14.68 million Tones in the PNG central highlands...its a big low grade deposit, the sort of deposit that 5 and 10 years ago was considered to be uneconomic....with POG above 1400 USD id reckon it would now be very economic.

    This could be a goer.
     
  8. basilio

    basilio Well-Known Member

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    It does look good. To be brutally honest however I just don't want to unwind my other investments and spread myself thinner.

    My entry and exit was swift and profitable. I hope longer term players get a good result as well !!:)
     
  9. greengoat

    greengoat Member

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  10. Hal2000

    Hal2000 Member

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    Yes, but I suspect June 2012 is about the time to again take a good look at the company.
    They will have more or less completed their current drilling program and would have substantially completed their PFS.
    If all goes well one might reasonably start to see some movement on the share price then and after.
    I have this company pegged at a $1 or better in the next 18-20 months simply based on its management and the fact that the company has 2,000,000 oz coming through proven/measured/indicated.
    When you think about it IDC really has taken some giant steps forward in only 14 months, in large due to it acquiring a readymade basis for going into production.
    What is not in the general market arena but is in the public domain is that in and around Mt Kare there are a number of highly prospective targets aside from Mt Kare itself.
    Some are within the EL held by Indochine.
    Others in te tenements to the west and south formally held by Buffalo.
    Apparently these tenements may also belog to Indochine at some stage when applications for grant are approved.
    These were discovered by Madisons partner in the (late) JV, (Buffalo Gold) and form part of te faulting systems within the Porgera Extension Zone.
    Not much if anything is said about this by Indochine and of course they are not obliged to disclose at this stage.
    Obviously they will be looking to get Mt Kare up and running first but there is huge potential here for another significant find by IDC.
    This company is probably going to be the PNG equiverlent of RRL in terms of a rapid rise.
    I have not taken shares yet but VERY seriously watching........
     
  11. Hal2000

    Hal2000 Member

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    One person’s loss is another’s gain

    The strategic error Buffalo Gold made, as the project manager/developer of the Mt Kare gold resource, was, it seems, midway through 2007.

    It appears that Buffalo assumed a “stronger for longer” mentality in relation to six or seven years of the bull market run from about 2001-2.

    Yet life teaches us all to be prepared for the unexpected (not that the GFC was by any means unexpected).

    What was Buffalo’s mistake?

    Instead of doing the time honored and (with respect, and in hind sight) logical thing which was to consolidate the asset base of the company by becoming a producer, and thus first complete a BFS on the Mt Kare Project, it elected to defer the BFS and extend the scope of the project to include greenfield targets.

    Why?

    Because in 2006 accordingly to the JV “the understanding and confidence in the mineralization at Mt. Kare” caused Buffalo to believe that there was “potential for significant additional mineralization outside of the known zones”.

    Buffalo and Madison “therefore agreed in May of 2007 to award Buffalo 60% of the Joint Venture immediately and defer the Type 2 Preliminary Economic Feasibility Study to instead complete detailed exploration work on the many targets throughout the property”.

    See the Buffalo news release May 18, 2007.

    So what?

    Well, with no DFS in place and over 2008-2009, and like so many other companies in a similar position, the JV could not attract finance over a number of critical months in 2008-2009 when it had some big bills to pay in PNG.

    The mechanics of the insolvency law in PNG started over an account for airline and hotel costs and once started could not be stopped.

    However, as at late 2007 and thereafter Buffalo Gold Ltd had announced that a “resource estimate has been successfully increased from 1.1 Million ounces of gold to 1.4 Million ounces of gold in the indicated category, at a gold equivalent cut-off of 1 g/t.

    See Buffalo’s news release June 26, 2006.

    That’s “indicated”, enough to drive directly to a BFS and mining.

    The extension of any reserves/resources could be included at a later time, as is almost always the case with other projects.

    Look at RRL for an example with Garden Well!

    It seems that there was just a little too much focus by Buffalo on ramping up share prices and looking a gift horse in te mouth in the short term and not enough focus on delivering the goods.

    Dare I also say there is a loose but significant distinction to be made between TSX and ASX listed juniors?

    With none of investment incentives otherwise given to a Canadian companies the ASX juniors have a marked tendency to take survival a lot more seriously and in these circumstances usually make a bee line to the cash flow and commercial survival.

    The drilling undertaken by Buffalo had, in 2007, delineated a higher grade core in the deposit which runs most of the length of the Western Roscoelite zone containing 743,000 oz gold (or 4.59 million tonnes at 5.04 g/t gold) with a gold-equivalent cut-off of 3 g/t.

    These estimates were based on a block model where the gold-equivalent service variable was derived from the sum of the gold and silver grades under the assumptions of a gold price of US$550/oz and a silver price of US$10/oz (Aueq g/t = Au g/t + (10/550) x Ag g/t).

    For those who don‘t know, there are (according to Wikepedia, the endless source of superficial knowledge) “Two kinds of mineral deposits contain roscoelite, either gold-silver-tellurium low temperature epithermal deposits where it occurs along with quartz, fluorite, pyrite and carbonates, or oxidized low temperature uranium-vanadium ores in sedimentary rocks, where it occurs with corvusite, hewettite, carnotite and tyuyamunite. Roecoelite is considered a gangue mineral of no value when found with gold.”

    The Roscolite at the Mt. Kare is the product of “geothermal fluid” activity that “deposited the roscoelite” from fluid temperatures “from 127 to 167 °C”.

    Roscolite as a gold indicator has been recorded as far as 40km to the south and west of Mt Kare and within the ground where Buffalo held other tenements in the course of its JV with Madison (and within the same ground, it is understood, currently under application for grant by Indochine or by an associate or confederate party).

    This has been subsequently and independent confirmed by Indochine however, note, under the assumption of a gold price of US$550/oz and a silver price of US$10/oz.

    Gold is currently around $1,775.10 (heading to 2,036?) and silver is $35.35 and tipped by some to make a six fold gain to around $200.00 an oz in the next 12-18 months (find the latter prediction a little hard to believe unless gold sky rockets.

    Buffalo Gold was close to $ 2.00 U.S. in April of 2007.

    Indochine is currently about .15 cents and frankly, the better company in terms of the depth of experience in its management.
     
  12. challenger123

    challenger123 Member

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    IndoChine Mining ASX : IDC - Baby Mammoth Video Presentation

    Hi Guys

    I thought I would get people's thoughts on a company I hold called IndoChine Mining.

    Here is a quick snapshot:

    Top 20 Shareholders Own 85% of IDC Shares
    Major Institutional Investors are:
    BlackRock (BHP's Largest shareholder owning 398million BHP Shares) 9%
    Baker Steel 10%
    Och Ziff 8%
    Maple Leaf 3%
    $10.5Million in Cash
    30,000-40,000metres of drilling already completed
    1.8Million OUnces of Gold + 20 MIllion Ounces of SIlver JORC Resource
    Mid Term Production
    BFS Drilling Happening Now while PFS is being completed for August 2012. (4 Weeks away)
    World's Largest Institutions are Major Shareholders
    PNG Landowners are our largest shareholders owning 68million IDC shares of 14% of the company.
    Bonanza Gold Grades Found
    Next to 28Million Ounce Porgera Gold Mine with same geological features
    IndoCHine Mining Won the Mines and Money Hong Kong "Discovery of the Year Award - in March 2012"

    Two Presentations for you:
    Geneva Precious Metals Conference to Precious Metals Instos April 2012:

    http://www.gowebcasting.com/events/.../13/indochine-mining-limited/play/stream/4519

    Below is a video from last July by the CEO Stephen Promnitz. Check it out let me know your thoughts.



    BlackRock a $6Trillion Investment Fund is now our Major Shareholder.....IDC BLACKROCK BECOMES MAJORITY SHAREHOLDERS.jpg

    I'll post some drilling and Bonanza Gold announcement pics shortly.
     
    Last edited by a moderator: Dec 30, 2016
  13. challenger123

    challenger123 Member

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    Indochine Bonanza Gold Results 46m @ 5.43g/t gold & 187g/t silver!

    Hey IDC Holders

    IndoChine Mining has just released an update on their Mt Kare Drilling Program.

    The Xstrata team that joined IndoChine in November last year has been very busy, completing 47 drill holes to date of this announcement, with three more being worked on currently. A total of 6,000 metres being drilled. Previously they had only completed 29 drill holes.

    We have only received drilling results on 3 drill holes, so plenty more to come in the weeks ahead to the PFS!

    The drilling results below are the same two drill holes that were previously released in early May, but the areas of the holes which physically showed “lower grade” of mineralisation. Hence they were processed later.

    These "lower grade" gold and silver mineralisation areas are still fantastic, when you compare it to any gold exploration drilling on the ASX.

    Drill Hole 123SD11 we have an intercept of 46metres @ Ave 5.43grams/ton of Gold and 187grams/ton of Silver, and this is from a shallow depth of 50 metres!
    IDC UPDATE JUNE1.png

    This is the exciting phase! The Bankable Feasibility Study drilling will be finished in 2 weeks time! This was the reason IDC went to BlackRock and BakerSteel for the additional $8.25million last month to accelerate the BFS drilling program so they can begin applying for mining leases and to work out how to build the gold mine!

    IDC UPDATE JUNE2.png

    Again extraordinary results, especially since these are considered by IndoCHine Management to be the lower grades of gold and silver mineralisation!

    IDC UPDATE JUNE3.png

    Tuesday's Shareholder Meeting will be interesting to see if we get any more information about the progress of Mt Kare!
     
  14. challenger123

    challenger123 Member

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    IDC - IndoChine Mining Set to Achieve Company Making Milestones Starting Tuesday

    Hey Guys

    IndoChine will start to hit funds radars with significant milestone announcements coming over the next 2-3 months, which starts this Tuesday 3rd of July at the Shareholders Meeting.

    The BFS will commence in October this year, but the drilling is being done while they still have the rigs upthere finishing the PFS.

    In almost every exploration/mine development project I have seen BFS drilling starts months after the PFS is completed, then they can commence work on the BFS report for the Final Mining Decision.

    This is a significant event, which will save us 6-12 months before the mine construction can commence. That's why mining lease applications will be made between the August to September period, because we are way ahead in the design and development of the mine at Mt Kare.

    The 6000m 47 drill holes to come will be very exciting IMHO. Together with the PFS, which will confirm whether we do have a ZERO PRODUCTION COST GOLD MINE will be a game changer and differentiate our gold mine from every other on the ASX and most other exchanges, don't forget we are listed on the Frankfurt Stock Exchange where serious dollars are traded each day.....:).

    Then on top of this we have a JORC increase coming after the PFS, while the BFS is being worked on.

    The importance of the JORC increase from 2.1million ounce of gold/silver to between 4million to 6 million ounces as has previously been stated by Mr Promnitz is that it allows the annual production level to increase, which increases our annual profit, thereforee significant lift in the share price. Analysts will be using NPV from future cashflows when they begin to invest in IndoChine once the company making milestone of the PFS is completed.

    For example, if we lift our JORC to 4million ounces, remember we have the same volcanic event that created Mt Kare sitting next door on the same mountain ridge at the 28million ounce Porgera gold mine.

    Most mines, no matter what they mine use an average 8-9% of JORC per annum to calculate their annual production levels. Currently we have 2.1million ounces of gold and silver and the current annual gold prodn is forecast at a conservative 150,000 ounces. This ensures there is enough ore in the ground for a 10 year mine life
    .

    Just like Sundance Resources, its all about lifting the resource to allow you to increase the annual production and $$$$.

    If we lift the JORC to only 4million ounces, this would allow George and his team to lift the annual gold production to 8% of 4million = 300,000 ounces.

    Now when the PFS comes out, if it does validate that the 20million+ ounces of silver will pay for the gold production, then we have a game changer on our hands.....

    300,000 ounces x $1600/oz gold price = $480,000,000 Revenue
    $0 Prodution Costs due to silver credit sales
    $480million gross profit per annum
    Now grab your NPV calculators and discount 10 yrs of cashflow at this conservative 4million ounce JORC.


    If we do lift it to 6-7million ounces.

    Not only will we be the second biggest gold JORC Resource on the ASX only behind the mighty Newcrest, but we have 1000m-1500metres of Mt Kare to drill to lift the JORC ever closer towards Porgera's 28million ounce deposit.

    Yesterday's announcement that once the BFS drilling is finished in the next 2 weeks the XStrata drill team will start to drill along strike and deeper into Mt Kare.........:)

    Tuesday's meeting will be interesting to see what has been achieved in the last few months, as well as what we can expect to see going forward.

    Cheers Challenger
     
  15. springhill

    springhill Make the drill work for YOU

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    Drilling Update ”“ Outstanding High Grade Gold Results Continue on Indochine’s Mt Kare Gold/Silver Project, PNG


    High grade gold results in the current drilling programme continue to be produced at Indochine Mining’s (ASX:IDC) gold/silver project at Mt Kare, in Papua New Guinea (PNG).
    Recent best results returned recently include:

    Drillhole 132SD12:
    53.9 metres (m) at 8.2 grams/tonne (g/t) gold, 18 g/t silver from 30m, including
    13 metres at 29.0 g/t gold, 19 g/t silver from 43m depth downhole.

    Drillhole 133SD12:
    35 metres at 8.1 grams/tonne gold, 19 g/t silver from 11m depth downhole.

    “Virtually every drillhole to date contains high grade gold, which shows the consistency of the project” said the CEO Stephen Promnitz. “Intervals of almost an ounce per tonne gold are similar to the initial grades at nearby Porgera, one of the world’s Top 10 gold mines.”

    In total, 415 diamond drill holes (~67,000 metres) have been completed in the project. The JORC Resource currently stands at 28Mt @ 1.9g/t Au for 1.8Moz gold and 20Moz silver, with a higher grade zone of 700,000oz gold at 3.7 g/t gold.

    Results provide the basis for the Pre‐Feasibility Study (PFS) due for completion by the end of August, with its public release before 28 September, after discussions with the regulatory authorities in PNG. Subject to the regulatory process, the company is targeting production of 125‐ 150,000 ounces gold and silver per year, to commence within three years.
     

    Attached Files:

  16. springhill

    springhill Make the drill work for YOU

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    Significant Visible Gold on New Prospect, 1 Kilometre South of Indochine’s Mt Kare Gold/Silver Resource, PNG

    Visible gold has been identified intermittently over 33 metres of drill core in a new prospect, approximately 1 kilometre south of the current resource, at Indochine Mining’s (ASX:IDC) Mt Kare project, in Papua New Guinea (PNG).
    A potential new gold discovery has been made in the first new exploration drillhole. Fine grained disseminated visible gold has been identified over 33 metres of drillcore from 170 metres depth downhole and the hole is being extended. The style of mineralisation, within a sheared siltstone/sandstone host, appears to differ from the currently identified resource to the north, although it is interpreted to occur in the same stratigraphic sequence. The core will be prioritised for assay which may take approximately 2 months before results are available.

    Nice 27% increase from IDC today, 1.3m volume is well above the daily average.
    This will be one to bookmark for the results due in 2 months.
     
  17. RazzaDazzla

    RazzaDazzla Well-Known Member

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    I'm assuming the ~20% drop today was because the numbers in the Pre Feasibility Study released today were below expectation? Or another reason?
     
  18. basilio

    basilio Well-Known Member

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    Re evaluated IDC recently and very impressed with quality of management and drilling results. I believe this could be a goer as the size and quality of the Mt Kare gold and silver resources becomes apparent.

    They are currently releasing a set of drill results that are confirming the extent of the resource. One is out today with more to come imminently

    http://newsstore.fairfax.com.au/app...theage.com.au/apps/qt/quote.ac?code=idc&f=pdf

    The other information that impressed me was the presentation from CEO Stephen Promnitz. Well worth a close look

    http://www.gowebcasting.com/events/p...ay/stream/4519

    Cheers

    __________________________________________________________________________

    Disclosure. I hold IDC
     
  19. princeplanet

    princeplanet Well-Known Member

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    This stock is looking pretty cheap now, and with an ann coming in a few days, there's word about on another forum that this could go off. Anyone got the skinny on this puppy?
     
  20. basilio

    basilio Well-Known Member

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    IDC should be going off... Great drill results , excellent assays. In fact it "should" have gone off after the last bonanza drill results.

    But then the same can be said for many other companies with promising drills. Currently this market sees a cent on the table and grabs it. If a few big buyers with deep pockets and a 2 year view decide to take a position in the company it will be revalued. The goods are there. But it won't happen with day traders and wannabes.
     
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