Ann: Update on Riqueza Earn-in Agreement, page-47

Allens.

These paragraphs would give me considerable concern if I was a shareholder.

"Existing and future projects, however, risk delays and potential halts due to red tape and growing local opposition to the extraction of the country’s resources.
According to the latest report by Fitch Solutions Macro Research, the ongoing expansion of mining exploration in the South American country is raising the risk of tensions between companies and the local population.
In two landmark cases last year, Ecuadorian courts sided with rural and indigenous communities who argued the national government had failed to inform them it was setting aside parts of their territories for mineral exploitation. That, Fitch notes, is a right protected by the 2008 Constitution.
As mining projects face headwinds from rising tensions, investors' courage will be tested, the analysts conclude, which could thwart Ecuador’s plan to attract $3.7 billion in mining investments in the next two years, up from $270 million in 2018."

I think that Peru is a much more stable country than Ecuador which always seems, to me at least, to be on the brink of nationalization and socialism.
I understand from Ross that in Peru the locals are very much on side with ICG.

Lockitt