Indochine Mining is developing the Mt Kare gold–silver project in Papua New Guinea, located 15 km from Barrick Gold’s Porgera mine. The company’s strategy is focused on high‑grade zones of 5–20 g/t gold and it is targeting a +1 million ounce resource at 10 g/t by the first half of next year. Management plans resource‑extension drilling at Mt Kare and has allocated new funds to that drilling and to working capital. Indochine is targeting production of 150,000–200,000 oz per annum at 10 g/t and estimates roughly half the capital expenditure of its PFS, targeting A$100 million. The company frames Mt Kare near a world‑class deposit—Porgera started with exploration and underground mining of high‑grade gold. Indochine completed a recent capital raise to fund its near‑term drilling program.

Total raised

$3M

Funding rounds

1

Latest round

Equity

Latest activity

Aug 2013