ICG 0.00% 0.5¢ inca minerals limited

Well said @allens - there is little doubt that our copper...

  1. 10,739 Posts.
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    Well said @allens - there is little doubt that our copper projects in North Australia will drive our Company forward as the world moves more into hi tech, and zero emissions. Day after day we see confirmation of that in the media and in market reports.
    I can sense your frustration with our position at this moment, the wet is bearing down, the landowners are elusive (we have not been told otherwise) the driller who many thought was on standby has not been confirmed - and our board members in Perth, who are tasked with these routine management matters have chosen silence.

    I am sure from analysis of information provided by the Company, and the remarkable posters we have here on HC and by personal conversations at Noose Conference, that the emphasis for Inca has firmly moved from Peru to the NT assets.

    I know many will say OK to what I say, many more may be shocked and confused, and some will attack me for their own reasons.

    However I am convinced the present MD has long since overstayed his assignment. It is my opinion that the Company will move forward with greater certainty of success under different senior management.

    Ross Brown came to Condor, the ASX listed entity which soon changed name to Inca Minerals, bearing a prize, and was rewarded for that with 22.5 million shares and the position of MD.

    The prize was Chanape, which was touted as a mineralised porphyry discovery. That statement was repeated in numerous announcements, and in Annual Reports signed off in 2012 and 2013 by J. Walawski as Chair and G. Lloyd and R. Brown as directors. [Bold highlights below are mine]

    In the 2012 AR these words were published under J.Walawski's name as Chairman.

    "...it was an excitingmilestone for the Company when the work andexploration conducted at Chanape, the Company’sflagship project, confirmed the existence of a largehigh-sulphide gold-silver-copper epithermal porphyrysystem."

    And followed by these words in the Operational Report signed off by R.Brown

    "Following the take-over, the focus of the Company has become the development of its new porphyry assetsin Peru, with particular emphasis on the advancement of the Company’s flagship Chanape Au-Ag-Cu PorphyryProject.Chanape is a tremendously exciting project. Through its exploration efforts this year, the Company confirmed theoccurrence of a high-sulphide (“HS”) epithermal gold, silver and copper, polyphase porphyry system. Porphyrydeposits are among the World’s most important sources of copper and gold."

    Continuing the information these words appear in the Director's Report in the 2013 AR under the names of G.Lloyd and J.Walawski :-

    The Board of Directors of Inca extend their sincerethanks to shareholders, consultants and marketcommentators for their support and loyaltythroughout this exciting year of discovery. It hasbeen a year of great success for the company withthe identification of a mineralised porphyry at ourflagship project, Chanape, in Peru.In the very first hole drilled by the Company atChanape a copper, molybdenum, silver and goldbearingporphyry was intersected. The porphyry wasfound below a hydrothermal breccia pipe, whichitself contains significant grades of gold and silver.This seminal hole, CH-DDH001, marked a paradigmshift for Inca, away from being a company lookingfor a porphyry, to a company that has found aporphyry. That the prospectivity of the porphyry wassubstantiated by world-expert opinion presses thepoint that Chanape is an exploration developmentproject of great importance.

    These words, and the information they clearly convey, are wrong, and for whatever reason, being for example lack of competence or understanding, IMO they should have spelled the end of the directors brought into the Company with Chanape.

    IMO - 10 years later we are experiencing frustration by the same people. From information on previous posts and conversations I have witnessed I am certain there are moves afoot to substantially reinforce top management of the Company. I suspect, but do not know for certain, and will not inquire on privileged information, that these moves are being resisted and stymied.

    I believe it is correct for shareholders to know this. And that we as shareholders must be of firm resolve that when the time comes and we are called upon we must act in unison.

    The thoughts in this post are mine entirely - but they are based on facts alone, except where I have used my judgment and passed an opinion, which I have drawn to your attention.

    GL all - use any delay to reaffirm your commitment. Stay safe. JandJ

 
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