Ann: Visible Mineralisation at Both Uchpanga and Humaspunco, page-39

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Michael T

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10/05/17

19:02

Post #: 24606852
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Originally posted by Dr Jonathan West ↑

Sorry guys for delayed reponse to the ASX release yesterday and everyones questions. I am in another world of pain at the moment and geting emails out is the last of my priorities.

Thanks Koko57 and Bornite for putting some sensible and calming words out to shareholders. Bornite is right that the ASX release was clearly rushed and clearly in response to the company being concerned both about the share pice going backwards and probably from all the calls they have received from concerned shareholders. It was lucky that they actually had a "spare" 37m of core from a new hole in the prime target at Humaspunco.

As Bornite, says this one looks "juicy". Remember we are expecting multiple 0.5-4m hits as they drill through the known veins and mantos, as well as any from blind veins and mantos we don't know about yet. Also remember they were drilling multiple holes form individual sites at Humaspunco as they are hoping to get a good 3D perspective on how all the mineralisation hangs together.

We are dealing with a small cap and pretty much a single project and I guess all shareholders are way ahead of where we actually are, at least in terms of exppectations. Remember exploration is a SLOW game and with so much past hype and expectations it is not surprising when some shareholders sold out because they were a bit impatient. Also RCF is still a likely seller as they are setting up a new resource fund and they can afford to sell down on ICG as they have done so well on ICG. Lastly, some of the sales were a result of stop-lossess that shareholders had (and they got caught on them) as it would not be beyond a potential predator to try and drop the share price a bit and then stand in the market and pick up a big swag of cheap shares.

All and any of these things could be at play and resulted in the recent price weakness. BUT......ask your self this question .... has there been any fundamental change or shift in the prospectivity of the project and has there been any fundamentally bad news that makes you want to bail out??? I would say the answer is a big NO on all counts. All that has happened is things are taking longer that we wanted but they are NOW DRILLING the primary target and they will do at least a couple of holes a week so the news flow is coming.

Just steady your resolve and your nerves. Go back and check that this project still ticks your core selection criterion and that it is probably one of the most exciting undrilled Pb, Zn, Ag project anywhere.

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Thanks Doc, wish you a speedy recovery

ICG Price at posting: 1.5¢ Sentiment: Buy Disclosure: Held
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Ann: Visible Mineralisation at Both Uchpanga and Humaspunco, page-39

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Ann: Visible Mineralisation at Both Uchpanga and Humaspunco, page-39

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