Why the SP is compressed, page-134

OK. 1st announcement said:

Inca Minerals Limited (Inca or the Company) wishes to advise that it received a Withdrawal Notice (Notice) from South32 Limited (South32) in regards to the Company’s Riqueza Project. The Notice was received yesterday afternoon and dated 14 May 2020. The Share Subscription Earn-in Agreement between South32 and Inca will terminate in 60 days’ time, in accordance with that agreement. By this Notice, South32 has not satisfied the right to a share in the project. As such, Inca will retain 100% ownership of Riqueza.

It is disappointing from Inca’s perspective that South32 elected to issue the Notice prior to the receipt of the IP interpretation report, which is currently being compiled by an independent consultancy and is due in approximately 10 to 14 days’ time. A drill target recommendations report that utilises all datasets of the abovementioned programs, being compiled by the same consultancy, is due at around the same time. As soon as the reports are received, Inca will inform the market.