re: Ann: First Pig Iron Cast at Outotec Trial... Jack, I'm not...

re: Ann: First Pig Iron Cast at Outotec Trial... Jack, I'm not going to get into an argument over it - I'm entitled to my own opinion and my experience up there tells me that unless you have piles of cash (ie BHP, Newmont or Freeport) it's hard to work in Indonesia (that is the correct spelling, by the way)?

I've done my research on the company and the project, and frankly they've been making vast promises over the last 3 years (if not longer), but failed to move the project much further forward from the work done in the 1970's and 80's (funny IDO don't talk about that much, but the work IS out there if you talk to the right people). Incidentally the work in the 1980's was done by the Germans (strange coincidence)....ask the Company about it if you'd like more info?? LOL

Building the pilot plant and smelting iron is a natural progression on a project like this, but not a huge leap forward! The 1970's work proved you could make a concentrate (and the IDO work hasn't improved on that) and the Japanese originally smelted iron sands in backyard furnaces to make iron for weapons more than 800 years ago, so the ability to make iron is well proven. The question is, can it be done economically?? And that is a question not asked regularly enough by the shareholders of most companies!!!

The recently released 'Feasibility Study' is seriously short on detail IMO. What level of Feasibility? How robust are the costs? What do the costs include? Why are they linking the pricing to the 62% Fe price, when they can only produce a 55% Fe product? Who is the market? Are they going to be allowed to export a concentrate? And the list goes on...some credible names may have worked on the study but there's too many grey areas for me.


mtm, the last 5B submitted to the ASX shows the coal mine to be a LIABILITY not an asset (it consistently loses money), hence the recent capital raising - which one of the many reasons why I'm out! Looking at the current sp trend I'd say the market agrees with me, I would expect to see the sp settle between 20-30c again, where it supported and consistently sits until they need to do a capital raising? See the 10 year price graph for proof!

Yes, I've lost money, and I'm annoyed (mainly at myself) but I've cut my losses...typical, a hot broker tip and I did do alright for awhile, just didn't get out early enough?

But don't worry I won't be posting again - I no longer have ANY interest in IDO.

Good luck to IDO shareholders and DYOR!

PS Jack, I gather you and others are quite close to the company?