I hate commenting about Peru but do feel it needs saying that...

I hate commenting about Peru but do feel it needs saying that the program to date implemented at Riqueza seemed to be a well designed program.

My understanding is that everything is more complicated in Peru, politics, etc included but especially the permitting system. Have Inca drilled the most prospective holes or just holes that were seriously prospective and for which they already had easily accessible permitting in place? In either case the holes would have been drilled eventually. So Inca gave shareholders a relatively quick attempt to get results but it didn't pan out that way. That is why they call it exploration. Not every well designed and planned campaign works but in this case it has added to the knowledge base for future Peru campaigns. I think it a tough call to fault RB and GL for that campaign. They still have great targets subject to permitting and time.

This doesn't change my view that the jewels in the crown are the Australian tenements. Regardless of any delays in not getting drilling started last year, (all hind sight now) the thing of supreme importance is that this upcoming campaign, likely starting late March or early April, has a smooth process. We know there is mineralisation in Mt Lamb via NDIBK04, now we need to find out how much. The landowner is all signed up and hopefully he is very happy with the current rainfall. Inca could well be leaving him extra bores after their campaign so he is on a real win. He will be able to run more cattle in the dry due to the extra bores post drilling. I expect him to be supportive now that all the details have been worked out. Inca have some of the best ground thanks to JW and RH we have a better chance than most to turn up something of SIGNIFICANCE.

We also know we have in excess of a kilometre strike of copper and gold at surface down at Jean Elson. AMAGRAD results should surface not to far down the track. We know we have great mineralisation at surface on MaCauley Creek in Qld. This is the year we get to give these Aussie tenements their turn. Permitting over here is far more straight forward IMO.