IDCN - gold, garnet, etc. Message Board

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Microcap & Penny Stocks : IDCN - gold, garnet, etc.

IDCN 0.00001000

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Mar 6 3:00 PM EST

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To: flyfar who wrote (1617)	8/26/1998 10:33:00 AM
From: Coolbreeze	of 5908

Flyfar, I am not going to tell anyone that anything is or isn't for sure, JMHO based on my DD (I think if you read my posts along with PRs then you will see I've done a little DD in my spare time <gggg>). Anyway, with that mess being said I'll try and explain what I believe to be happening behind the scenes. 1. IDCN purchases Prodigy Resources who purchased the Issaac's Harbour site from the Boddy group with options (Boddy's will receive royalties from gold extracted) 2. Company works with CMI(group of investment bankers from Montreal) to get a PP. CMI also brings in an offer from group along with partners from Switzerland and Belgium which the company was not expecting. 3. Company accepts the offer (don't ever want to immediately turn down any offer) and puts it to the shareholders (get their head off the chopping block) for a vote giving the company some stall time to finish their samplings and get a better understanding of what they have. 4. Even though the deal has been agreed upon, they are putting it to a shareholders vote. This tactic is perfectly within general business practice. There will be no consequence if shareholders vote it down because that is perfectly legal. Because this process takes some 6 weeks, it gives the company time to get more (hopefully better) results out to give everyone a better idea as to the company's worth. Eventually you will get to a point where all parties interested are content and a deal becomes reality (i.e say 40-60% discounted true share value price ($1.00-2.00/share)). This whole process could take anywhere from 4 weeks to 12 months JMHO. Hope this helps, CB

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