Ann: PERU DRILL PERMIT UPDATE, page-72

Hello @allens, I didn’t say ‘S32 didn't see anything of value in Riqueza’, that’s your cognitive bias kicking in, you should read my comment again.

no I haven’t been to Peru to see the tier 1 type scale projects you’re referencing. do you think that would make a difference? Why? I do assume that South32 have though and wouldn’t walk away from such a project if that’s what they thought they had. Would you? wouldn’t you talk to your junior partner about shifting commitments and timing around to preserve your opportunity? And wouldn’t your junior partner likely accommodate under cover of Covid?

Are you really confident Riqueza is such a large scale copper target? I’ve read every announcement since Jan 2015, recently, and I’m not that convinced. I do feel confident about their lead/zinc prospects though. (and zinc/lead, with silver, qualifies as polymetallic to me).

Hey I won’t complain if they find a copper giant in Peru, but until drilling actually proves something, the hopes for Riqueza expressed in company documentation don’t look hugely different than the hopes management talked up for porphyry targets at Chanape through the middle of last decade. Chanape was basically a duster so we have first hand experience that Peruvian ground doesn’t just spit out tier 1 copper projects despite the size of some of the copper mines in Peru.