Ann: 52% Take Up in Inca Rights Issue, page-38

Hi IceMan,

Not sure I follow you 100%. There are 16 buyers asking for 83 million shares at 0.001 cent. I think it would have to be a cold day in hell for this buyer's line to come into play, or 0.002 or 0.003 and doubt we will see much volume in the future at 0.004. (maybe 0.0045 - thanks to the cross trading Brokers)

With regard to the recent share offer with option thrown in, the option can be executed down the track, or when ever you like. I imagine some investors have decided to take up the recent share offer at 0.005 cents per share to secure the option for the future and then put the 0.005 shares purchased back on the market. (not the option)

In affect if they sell at .005 cents, they get their money back and hold an option that might be worth some dollars in the future for free or more appropriately as a share purchase incentive (investors having to pay the exercise/option price of course, so technically not free).

I don't believe you can trade the ICG options on the market, I suspect they are unlisted options, maybe via an off market transfer. Happy to be corrected.

Lastly, I think ICG has some serious legs going forward. I think much of the current action is trading between the brokers picking up half a pip up and down each day, they are probably making 15% to 20% a month on the voletility if they pick the right days and volume, good luck to them.

Medium to long term value is what has attracted me to ICG as a speculator / investor, not a trader so I'm not glued to the SP every hour or day.

In any event, good luck to all holders, old and new !! (for the LTH's, things have certainly turned a corner re potential, share price will follow in due course, better late then never)

M