Ann: MD's Company Update - December 2021, page-80

Great post @Dr Jonathan West - a complex issue well discussed.

So Peru is to be another JV says Dr J (which means IMO that is RB's plan). That is a good way to progress given the 'bookends' by BHP and Anglo. Except that with South32 having tried a JV and scampered, I suspect any other major would be circumspect. I never accepted COVID as the reason S32 left.

Anyway permits and drilling going on for an immeasurable time, and as @seals commented an exploration outcome in Australia might yield 4 times a similar discovery in Peru, and finally developing a mine might take 10 years to facilitate the political and envoronmental situation, makes JV or sale the only option for us. IMO - DYOR.

In any case I do not understand the necessity for more consultants work, especially from the same consultants who did not pick up and highlight the possible failure mode in NE.

I still see Peru now as an obsession due to failure of all Inca's efforts there over 10 years.

As for NT, I fail to see how exploration there can proceed from management in Perth. Save for a complete board restructure, an Exploration Office with full control and full budgeting authority should be established for JW (director) and RH (exploration manager) to administer the programs in NT and Queensland. There will need to be staff and they should be report to that office.

I have now been a shareholder, on and off, with Inca since early days at Chanape - no other company has ever produced results of such incompetence, and downright deceptive reporting. (Shortly I will share with you all the true saga at Chanape, and you can measure that comment for yourself) - and yet no other company, since JW and RH pegged the NT and Qld tenements and brought them to Inca has promised so much.

I thank Dr J for his contribution, and yes, I share his frustration, and yes, I am one of the angry ones. Yet I also expect a brilliant outcome, so much so that I invested for another 300,000 Inca shares today.

I will do everything in my power, by posting here, using influence, and offering support where I can, to get this damn thing sorted.

Stay safe, DYOR not trade on my comment.