Grubarura,
I can't really comment on the speculation about what S32 is doing in the JV, but it's in the JV because for a mid tier miner of a certain disposition, being in South America and searching for porphyries is de rigeur. So I doubt they will be withdrawing immediately after mapping it and sampling it and carrying on with DTM mapping, blah blah blah.
So all the speculation about the share price is complete Hot Copper tinfoiling, in my opinion, and tends to drive itself in a vicious circle of bum-biting ignorance until everyone's convinced there's a conspiracy of bots to defraud the punters of their hard earnt.
ICG's Queensland property looks interesting. Like any copper veins in granite, the idea is you drill at depth and voila, a multi-billion tonne porphyry. But as SVY showed this month, sometimes drilling 1500m+ diamond holes chasing these targets is less effective than just running IP or EM over the area and trying to directly detect the sulphides sitting a couple of metres below the deck. It's laughable, really, but that's the mystique of porphyries.
I will say that ICG's disclosure has been a little wheezy for the past few years. Riqueza has always looked interesting, but the company talk has made it out to be hot stuff when it's not always clear there is stuff and what temperature the stuff is. So I've only really ever cast a weather eye over it in the past. So I think the company has been promoting itself very stringently, because it believes in its prospects and has been marketing them to the limit. Is that completely justified? Well, S32 JVed in, so there is something worth testing, and it's been tested.
As for why nothing much might be going on at 5km high in the ANdes? I mean, it's winter. At 5km high. I for one would not want to be doing field work at minus eleventy billion degrees in the wheeze zone. Summer will be when S32 will be drilling in the Andes. Investors think this stuff happens year round because we're used to explorers working turdy hopeless gold projects in the Yilgarn of Western AUstralia where you can drill year round. But it just doesn't work like that in the Andes.
My 2c
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