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Thanks Jonathan for lifting the team spirit The pessimism...

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grubarura

5,514 Posts.

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25/10/18

17:38

Post #: 36262719
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Originally posted by Dr Jonathan West ↑

Everyone ... I suggest that we all chill. I don't think that there is anything to be overly concerned about. This trading halt/pause could be for any number of things but I seriously can't see them considering a CR. The paint is barely dry on the last one and, given that it was not wildly successful, I really don't think the ICG Board would be stupid enough to contemplate another one now.

Also, let's remember a couple of critical points. First, the biggest potential drain on expenditure will be the Riqueza project where there are now MULTIPLE HIGH PRIORITY targets and which - at least for the next few years - will be essentially FULLY funded by S32. All that is required here is to finalise the details of the JV and agree on exploration priorities and budget. Whilst that is ongoing process it WILL happen and at some point we will see an expanded exploration program. Second, the other drains on ICG cash reserves will be Cerro Rayas and now the Timor projects. These are still largely early exploration (and hence low cost) operations so I would suspect that the current ICG cash base will cover those.

I also read something else in the recent announcements, particularly about strategy. I think the company has realised that the model they have with S32 is the least risk/best reward way forward for a junior like ICG and that it would not surprise me if they were trying to emulate this approach with these other project areas. The key of course will be to get the project to a stage where it is of potential interest to a JV partner. I suspect that Cerro Rayas is probably not too far away from that and for the new " greenflelds " projects such as Timor, it is too early to contemplate that but their initial exploration costs will not be massive here.

Lastly, I am finally back from o/s where I had very limited internet access. So I will try and get an email out to all shareholders in the "shareholder group" in the next couple of days, with my thoughts on the last few ICG ASX releases. For me, it is starting to come together nicely, at long last and I am also not averse to the concept of the company increasing its exposure to other commodities and jurisdictions to reduce risks. The key will be managing an expanding exploration program within the confines of available cash and to - critically - be strategic and creative in finding ways to advance these projects without trying to "wring the last drop of blood' out of an already dry shareholder base.

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Thanks Jonathan for lifting the team spirit

The pessimism disease was setting here in

ICG Price at posting: 0.4¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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Thanks Jonathan for lifting the team spirit The pessimism...

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