I Was An Inca Addict, page-9

Nammuldi.

There are always different ways of going about a business.

I also hold AQD as well as ICG and I see merit in both approaches.

It has been known for a long time that ICG have very prospective ground, and I am sure, that if they had decided to go down a similar road to AQD regarding JV's, then they would have had no trouble in getting a partner to JV with.

From speaking with ICG management, at last years AGM, I know that they felt that they did not want to enter a JV too cheaply and sell the potential of the company short. This is not because there was no one interested.

I also have no doubt that ICG management had, and still have, great faith in what is at Chanape and have decided to value add as much as possible before getting into bed with a JV.

I also see the reasoning behind AQD's approach and I am happy with that. I just wonder how the shareholders will feel if something big is hit by their JV partners and they have given away 70% cheaply.

Conversely, I also wonder how ICG shareholders will feel if the company turns up nothing economical.

That is the risk and excitement of being in this end of the market. Some can take the risk and most cannot, and they end up losing sleep and bailing out of a company but, that is their right.

Personally, I feel that it is so hard to come up with truly prospective ground that when a company gets it's hands on some, like ICG, that it is worth giving it a decent go and pull out all stops regarding risk.

Many people often over-analyse every word that is said in announcements looking for the hidden meaning that is not even there. They also never trust anyone to do the right thing even though they have never met them, or asked other people who have dealt with them, about their honesty and capability.

I am happy with my decisions regarding ICG and have put my money where my mouth is. Other people sit on the sideline sniping away and hoping that their negative opinions turn out to be correct so they can have a little win and say I told you so, and, in most cases they do not even hold.

Lockitt