Ann: Inca Annual General Meeting Results, page-5

Allen’s, The AGM dealt with the admin side of the meeting, motions, voting etc then closed. After that questions were asked about East Timor, that was very, very interesting. A question was asked re the CR and how it was going, both Justin and Ross seem very happy with how it is going. RCF are estimated to have approx 90 million shares left, the sell decision was made from the North American office NOT the Australian office of RCF. Both the Aussie RCF & Inca apparently found out at the same time. RCF were told to liquidate all of their holdings as they are in a bit of pain from other dealings. not just ICG. Justin may have said he thought RCF might be buying again. Do not take that as gospel though. Ross brought out some survey maps of Riquza and the surrounding areas and other companies concessions. The maps were from the aerial surveys - magnetic and radio. Ross had cut out a slide of Antamina at the same scale as the maps of our ground. Antamina as you know is a billion tonnes, he then overlaid this on to four of our most prospective areas - OMG, some of ours are larger than Antamina, I noticed a fifth area that did not get a mention. I was that impressed, read excited, I sold 50k of my HE8 shares and bought in to the CR for another 1.5 million shares with options! Yes I was very excited. .
I have worked out I can convert my 3m options, sell them at 5 cents and cover all my costs plus take a long holiday & still have all of my shares left. I came away confident that all will evolve as we think it may, it will take a while however I think 2019 will be the year of the Alpaca. There is nothing like talking to Ross face to face to get a feel for things. As I mentioned a few weeks ago, the first AGM I went to was to see what sort of a person Ross is. I have come away from the 2018 AGM with the same view, Ross is definitely not about putting a “spin” on this to talk it up. I do believe that this will happen, just not fast enough for us all.

I have probably left some out , Dr Jonathon may email out to the shareholder group. One thing I did notice was that the shareholder group has proved it’s value. Ross acknowledged & thanked Dr Jonathon as being the catalyst for a possibly large uptake of shares among the shareholder group in the latest phase of the CR. This was good news to me as I think if the group and the board can deal and talk together this will help in the future of the company. Please note I have changed my sentiment from hold to buy.

Beach