You are spot on - I've found that 90% of HC is ramping, either up or down with no sensible basis for either. The contrarians are normally the most accurate.
I feel pretty confident with ICG though - our biggest risk at this stage is the drilling permit and the time taken to get this. Of course, they could deny a permit altogether, but I suspect they need the income from mining, so that's unlikely. A prolonged drilling permit approval will chew up our precious funds, so I'd hate to see a repeat of Chanape debacle - but hey, it is Peru.
CR imminent, page-38
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