Hello Alpacs et al, Apologies for not posting my 5c-worth for...

Hello Alpacs et al,

Apologies for not posting my 5c-worth for the past month or more. I’ve been out in the field followed by a pretty busy time workwise back in Brisbane.

While the assay results to date have not delivered the hoped for MC increase it is still early days in the exploration of Riqueza. Hopefully some stronger assays are returned soon to pick the SP up. Until this happens I agree with Dr West’s recent comments about progression of the exploration program, especially for the near surface manto sequence area.

We have known for a long time the real size of this project and it is pleasing this is slowly being validated by field observations. It is pretty obvious, though, that the size Riqueza verses the current bank balance and shares on issue is becoming a concern for funding longer term exploration of the project. I would hope to see Inca’s short term focus (and dollars) remain on Humaspunco rather than spreading them too thinly over the greater area. As it stands I believe the geological potential of Riqueza remains strong but the corporate risk is ticking up as the dollars decrease – the seesaw of exploration!

GLTAH

Bornite