Yes as @lockitt says - and he would know because he has a big holding of ICG - that $716 k is due mainly to Dr Jonathan's representations to the share holder group.
The importance of it is that now Inca can keep its large team of geologists and workers on site at Rigueza fully employed until end of January which is when S32 must take over the cost of running the program.
In the meantime maybe Ross will decide on a bit of surface mapping and collecting where The Monster daylights. Take a few lumps (of copper?) along to his meetings with S32 - lol.
Sad that we don't have a drill permit on that - our partly used permit covers another region of Rigueza, one which is now a Priority 2 target.
Did you know that, in Peru, you have to use or relinquish any drill permit before you can apply for another. But also, once you have received one permit, others are easier to come by.
Then when S32 picks up the tab for further exploration expenses, because of this Shortfall/Placement we have the funds to get Cerro Rayas up to speed. Do not underestimate the importance of that prospect.
Here is a page from Ross's AGM presso. The main mineralised corridor runs north south, across the page in the diagram, and the transverse faults are the broad dotted lines running more or less SW to NE.
It is thought that these faults were the pathways for the mineralised fluids emanating from the deep subduction as the oceanic plate slid beneath the Andes.
Note the amazing similarity between the Antamina mine and our Rigeuza. But there is more, both are in the same sequence of limestone which is ideal for these intrusive replacement deposits, and the skarns which run off them along the bedding planes of the limestone.
There is still more, a recent post on these ICG threads showed the faults in cross section - they are not vertical but inclined and they, or sub structures are seen heading towards Cerro Rayas, so if they are good for Rigeuza, then so too for Cerro - or so it is hoped, because Cerro is in the limestone too.
Speaking more generally, but not as a professional geologist, it seems that if you stay on the north south mineralised corridor in Peru, and find a set of those transverse faults in the limestone, you can set up shop in a big way.
So all of this potential is realisable in no small way because of Dr Jonathan's work. So a hearty thanks Dr J!!
So now of course you want me to say there is even more, yet again. And indeed there is, but unfortunately I don't know the facts, I have just heard the rumors - so like you I am anxiously waiting for a heap of anns and maybe emails from the Dr. Anyway, IMO 2019 will play out well for the faithful alpacas, and for Big Mac and the Big Pacs.
To sum up -
1. There is a huge chance that S32 will come on board and find a giant. We will have 30% and with the proven capacity to raise capital, we should be able to keep that right through to a mega mine. Otherwise it is going to cost them.
2. With funds available for Cerro, and a success at Rigueza, if Cerro is a look alike we should be in a massive bargaining position there. How about we keep 50% and are free carried by a cashed up major, well, maybe even to production.
3. Don't forget Timor - I am now turning my mind to Timor, and I expect to be blown away - please Ross don't farm it out too cheap. The info Ross has, including from UN sponsored exploration is amazing - and they seem to have asked him to be first mover and get things going.
(20min delay)