Dumped, page-203

I know we haven't heard about Peru for a while. However, it's fair to say that Riqueza has almost doubled the high priority targets. And this is only for the SW quarter of the project area! How many more will we have when the rest of the soil sample assays are reported??

The doubling of targets (approx. half now in total I think are P1s 20 /40) in the SW alone is a problem, but it's a nice problem. That is, we now have the difficult job of carefully and logically narrowing down the highest probability ones of getting an early drill hit. Also, it probably means more pre-drilling work to massively increase the chances of success but for the sake of a few extra months… so based on all the unexpected finds and upgraded targets, this delay can be seen as a good thing.

If these are the facts then there’s no need to panic or to misunderstand the selling at 0.2c. Clearly it is the short term traders who bought in the current RI at 0.2c and are selling to get their money back and to then be able to carry their options for free. Good deal for them as the options have a 3-year life and will be in the money big time if Riqueza delivers. Also worth noting that whilst this is causing some selling pressure on the share price at the moment, DON’T forget, Inca now has the money and can keep going for 18 months or so with this capital raise and in that time we will know, one way or the other, just what Riqueza will really deliver.

In short, Grub and Kiwi pass around the optimism pills!

Poet