Ann: Final Soil Analysis & Further Copper Discoveries at Riqueza, page-69

Painter.

"I will say it again, ICG are managing all the aspects of the project, S32 are the financiers." and this: " They will front up with 2mil in April for the next phase of the project and hopefully before then they may have covered all bases to drill in the optimum places."
Managing simply means making things happen, such as drilling in the correct place, keeping the workers off the piss, handling breakdowns and reporting to S32 etc.

Have you ever heard the saying "Those who control the gold make the rules"

I have no idea whether or not you were in ICG when we went through the Chanape drill permit episode.

If you were, then you should remember what I mean when I say that drilling permits in that part of the world can break a company.

I don't think you understand what I say about drill permits as just deciding where to drill, and having the money to do so, is not enough. They then will need to apply for the drilling permits and in Peru, as we have found from experience, can be a very frustrating and long time for SH's.

There is nothing that our management can do about this fact. I am not being critical of management but simply trying to warn holders that they can still be in for a very long and frustrating wait.

Lockitt