Fellow ICG shareholders ..... I am concerned to see that Zippy1...

Fellow ICG shareholders ..... I am concerned to see that Zippy1 has read my comments and interpreted them as negative for ICG and that may have contributed to his decision to sell shares today. My comments in no way are meant to do other than try and explain what the geology is telling us.

I said yesterday that whilst the results were underwhelming (in terms of stand out grades as in the earlier hole) and less than I hoped for (based on the ICG comment of material drill results), I also said that they still reinforced the view that there is one very big mineral system at Chanape and that the priority is to get some deep holes into the porphyries.

In truth the hole was materially significant, form a geological understanding of the system perspective, and it will no doubt help further refinement of the next round of drilling. It just was not material in the way we obviously were all hoping!

As I have said a number of times, not all holes will be highly mineralised, but holes 17-19 were all mineralised and demonstrated the classic mineral zoning that you get on the outer edges of a porphyry copper deposit.

Please do not read my comments as specific advice on whether to sell or buy but as an attempt to have a more informed discussion about how the exploration program evolves.

If any of you want to have a more detailed discussion about exactly what my views on investment potential etc, please contact me directly as that sort of discussion is not best done on a forum such as HC.

For the record I am still a big believer in Chanape and was going to take the opportunity to pick up more shares today, given the overreaction of some of the sellers before the trading halt stymied me. There will always be ups and downs in the life of a junior as exploration whilst an exciting game is also fraught with days of disappointment.