News: ICG Inca Minerals Says To Cease Operations In Peru, page-8

Us ol timers brought in for Peru. There is mineralisation on our tenements, and that has been proven. S32 spent up but pulled out due to budget restraints due to covid. There is plenty of promise in Peru. But on the other hand, government corruption is rife, the red tape with government was incredible, even needing a permit to apply for a permit at one stage and the costs associated with running an operation in another land. It is worth something to us, and i didn't see us exploring there in the next 5 years anyway. An agreement and earn in or jv would be my preferred way of going. Real estate isnt as valuable in Peru and the labour costs reasonably cheap. Thats why i see some deal as better than a complete sale of Peru. It was time for this to happen and commend management for moving forward with this. Peru is a major Cu producer and im sure it will be wanted by others. Someone with a foothold in Peru already, who has experience dealing with their governments.
Mule