Value adding also good to hear! (read potential partnerships or...

Value adding also good to hear! (read potential partnerships or discussions happening in Oz?).

"Inca has moved beyond the project incubation phase of the long-term strategy of the Company. Inca is unlikelyto acquire an additional project(s) unless an existing project(s) is/are divested (farmed-out/JV’d) or droppedfrom the portfolio..

In 2021 the Company moves towards the second phase of its long-term strategy — the binary valueproposition of i) strategic investment through value-adding exploration, and ii) strategic partnerships.

Thesecomponents are parallel, interchangeable and interconnected, which the 2021 exploration program reflects.Value-adding exploration is planned for all of the Australian projects in 2021. At the same time, it is important tobe aware that any one project or combinations of projects are available for funding partnerships. Eachpartnership proposition will be assessed for best outcomes and shareholder value. At any stage in thedevelopment of a project, the Company may decide to “go it alone”, farm it out, or drop the project entirely.The Company will not hold projects that have not performed well...

In summary, it is the intention of the Company in early 2021 to follow-up on targets within its Australian projectswhich are the most advanced and the most prospective—that have both geophysical and geochemicalcomponents and that are of a size to be regarded as having teir-1 potential...

It is noted that the 2021 program may change as a result of unfolding Company results, as well as results ofactivities of other companies operating in the vicinity. This flexibility is needed to correctly deploy funds to theright prospect to exact best outcomes for the Company.

The parallel component of the binary Australian strategy is the potential divestment of projects. We will considerany transaction that makes sense. “Making sense means making dollars” so that potential transactions must beattractive in terms of adding value to the project and adding value to the Company."

Nice way to start and finish the letter... Well done team!

Poet