I reckon ICG should insert a clause in the deal with Circuit...

I reckon ICG should insert a clause in the deal with Circuit Resources that entitles them to swap the royalty for 20% of any ipo that involves the Peru ground as I bet my bottom dollar that's where this is headed.

What chance does an unlisted Perth company have of bringing this ground into production on their own? I'd say Buckley's. That means either an ASX listing to fund the exploration or a jv with a significant player, which it seems ICG couldn't attract.

Has ICG undertaken any due diligence on Circuit to see if they have the capabilities to bring the project into production, if not then they are effectively getting rid of the projects for a gold coin.

I'm a former holder but sold out once the focus shifted away from Peru. My opinion means nothing, but I do hope that some holders ask questions of management as to how an unlisted company has a greater chance of making a success of Peru, to the point where ICG will receive a royalty, than they themselves.

It doesn't add up to me, but I have nothing on the line so I won't comment again. I just hope someone asks management to justify this deal before it gets signed off.