Ann: Inca to Cease Operations in Peru, page-46

Of course you are right @allens - except for :-

1. Inca has to decide - either Peru or Australia, we simply don't have the funds to do both, and to do both by halves is not smart.
2. Inca (ASX.ICG) has already spent over 10 years in Peru, and has no discovery to it's name. Peru is only for big cap explorers with big dollars to spend and diversified to cover the dusters.
3. Inca P/L (MD Ross Brown) spent years before the merger (reverse t/o ??) and only had a single hole to do the deal with, and it proved to be a duster too. Many guys still here who posted about the blue sky in those early days.
4. The indications out of JE are as good for a discovery as anything in the SE of Riquesa - and I think, personally, better.
5. There is the phosphate - Morocco, of course, dominates the market but phosphate rock is still scarce, and is a limited critical mineral. If we just drilled one hole in a carefully chosen spot for high chance of discovery that could lead to a very valuable JV. (say 20% free carry to D to M of a billion tonne resource - for us old holders, its game over. We are in clover)

Finally 6. Inca has people in charge who have smarts, and are dedicated to success. All have large amounts of skin in the game. I leave it to them to call the shots, and hope that the strong personalities can meld into equally strong judgements.

And also mate, I look forward to getting my new shares - Inca atm is a no brainer to support. But DYOR.