ido and lrs, page-3

Rockjumper...give yourself a gold star, you a legend, but obviously you need the internal satisfaction of gloating.

I can only go the first post on IDO you made back in July 2011. You claim to be a holder and your sentiment was "buy", the share price was $0.63

"Got put on to IDO a while back and doing really well. Wasn't aware of the other players in the market space?

Surprised to see the stock 'floating' the way it is - isn't there a BFS due out this month? Should make for interesting reading and hopefully another strong upleg"?

Then 2 months later you posted; SP was 0.48

"Used to really like IDO but the FS just doesn't add up for me - too small a reserve, no real infrastructure, problems with the locals, issues with export of raw product from Indo and very high CAPEX for such a small company.

While there might be some positives, also a lot of negatives and we're being asked to buy a lot of 'blue sky'. Experience tells me this is going to be hard to make work.

Sorry, but I'm out.....DYOR".

Then 2 months later this gem; SP at the time 0.24

"Shifting deck chairs on the Titanic! Or stoking a fire with $50 bills...take your pick! LOL

The sp is right where I said it would be...I love it when I'm right!!!

I think a certain Chinese steel mill might be asking for a 'please explain' fairly soon??? Better IDO than me"....


Now you were ultra keen at 0.63 probably lost money and exited. Your second post has merit but the follow up "Titanic" post appears like a person who sold at loss and is so glad the SP has gone even lower. Common Gratification Syndrome trait is what you are now experiencing.

Now a couple things, downgrade of resource? In 2009 annual report they stated "global resource estimated a global JORC resource of 605 million tonnes". The latest presentation states the same, so where is the downgrade? Your statement appears to be misleading!

Your comment "moves to ensure that no foreign company can own more than 49% of an Indonesian asset"

Fact is as follows: Recently Government of Indonesia through a Presidential Decree updated the mining laws of 2009 (IUPs) which replaced the Suharto-era laws (CoWs). The laws should not affect mining companies that are already have CoW production licences. The key focus for ASX listed developers/explorers is the requirement for a sell down of equity to a minority stake in a project by year 10. It starts at 20% in year 6 of production and progresses to an eventual 51% by the 10th year of production. First option goes to the Central Government, then Regional, then Municipal, then Government Owned companies, and finally Indonesian private companies.

Note: "The laws should not affect mining companies that are already have CoW production licences".

Fact: Indo Mines holds a 70% interest in PT Jogja Magasa Iron (Jmi). On 4 November 2008, JMI signed a CoW with
the Government of the Republic of Indonesia (Government), permitting JMI to develop the Project and to mine and
process iron sands throughout Indonesia.
Indo Mines 70% ownership interest in JMI is stated in the CoW, along with the 30% ownership interest held by PT
Jogja Magasa Mining. JMI is subject to the laws and jurisdiction of courts in Indonesia. Again it appears your comments are misleading!

"the Indonesians planning to stop exports of raw materials from 2014" Yes that was reported August last year, since then no reports confirming such an outcome was law. Probably 49% rule after Year 10 is the latest version of last year's story.

Your comment: "Unfortunately the current SP shows who knew what they were talking about...."

It wouldn't be hard to show 50 stocks bigger & better placed than IDO that display a similar share price performance over the past.

XMJ 12 month performance ;

There you have it folks decide for yourself, here we have someone who was happy to be holder at $0.63 to now stating "it's becoming increasingly uneconomic".

Can you please explain how this has become increasingly unecononic? As to date you have lacked considerable detail in your comments.

However due to macro markets conditions you can take some comfort that you can love yourself for being right.

Sadly in this game no one is always right. Being humble is an asset, sadly you lack that asset.