Replies to post #37584 on Indocan Resources Inc. (IDCN)

[petergriffin]

If your theory is correct and I am not saying it is not, it can not be for the full $12m for 3 reasons.

1. The present A/S makes it impossible to raise that kind of money once you do the math on it.

2. IDCN are in a JV regarding the $12m Bele project. The most I imagine they are into that JV for is half but it would not surprise me if it was more like 33%.

3. More than likely they had most of the money up front anyway otherwise I doubt the JV would have got off the ground but needed to make up a shortfall hence what many suspect happened yesterday.

JMO.