River its Rio in Spanish, which reminds me have you been to the Andes at the 4500 meter elevation ?
Whats in the mountain looks to me like ore similar to Constancia Copper a mere 2 hundred kilometers away. Whilst in charge of 2 Peruvian Electrical Contractors on the project and doing the HV reticulation for the open pit dewatering pumps. The contractor needed to place hundreds of 13 meter in length wooden polls in the ground circling the perimeter of the planned first stages of the open pit to support the 22kV supply to the dewatering pumps transformers at the allocated locations. Whilst digging the 1.5 meter holes to insert all the poles the burden coming out of the holes looked very similar to the rock samples that we see in the announcements also the IP surveys released to date remind me of other IP surveys on mines I have worked on around the place.
Now if your a glass half full person and seen the amount of grades being shown in the samples and the IP survey to date you would have to say are S32 awaiting the IP Survey so as to commit further funds sooner so as to find some news for their own stock woes with a falling share price and problems in South Africa with Aluminum ELIZABETH BAY and other issues S32 have on a global bases, smashing their market cap by billions of dollars in recent 2 years. S32 have the ability to ramp this right up if they see good things in the IP survey and their market caps needs a boost at present. S32 share price has fallen from highs of $3.50 to now $1.80 and dropped recently from $2.40 to as low as $1.63 due Covid-19.
So don't be surprised if due the current situation S32 are awaiting the IP Survey so they can issue more capital and get the party started ( Pump Up The Jam ).
They have a pretty good idea what is there due they did plenty of Due Diligence prior committing to US$9M where as with AQD they only received US$4 M for there Peruvian show.
So you tell me why a Mid Tier Miner would allocated US$9M if they hadn't done their own due diligence. What do they pay their Geo guys for they wouldn't go off what INCA said alone. You have heard the story about gold mines in Central Kalimantan Indonesia and Geologists being thrown from helicopters for bad reports haven't you.
Sorry Geologist going missing in Central Kalimantan Indonesia last seen entering a Helicopter.
They made a movie about it forgot its name.
ICG Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
(20min delay)