ICG - Inca Minerals

silver kooka · Oct 7, 2017

BGS up 14 % yesterday too! I was thinking about dumping ICG but will keep holding as momentum seems to be changing on the back of announcement.

StewyD32 · Oct 7, 2017

Given the market sentiment of the other good drill announcements relating to ICG, I think it will go down as quick as it went up.
With people holding for so long and accumulating throughout on the lows there will be some profit taking at the start of next week.
ICG is a long holder and amazed it is at the current price it is now. It should be more!

SilverDJ · Oct 27, 2017

33% drop today on news of a share rights issue at 0.6 cents

Announcement:

MANAGING DIRECTOR’S LETTER 26 October 2017 Dear Fellow Shareholder, On behalf of the Board I am pleased to present Inca Minerals Limited’s (Inca or Company) Prospectus for an Entitlement Offer to Shareholders. The Entitlement Offer is a non-renounceable entitlement issue of 1 New Share for every 4 Shares held by Shareholders at an issue price of $0.006 per New Share -this represents a 33% discountto both the market price and the 10-day VWAP as at the end of trading on 25 October 2017. This Entitlement Offer is made to all Inca Shareholders with a registered address in Australia, New Zealand and Germany on the Record Date and will raise up to approximately $3,456,685 (before associated costs). Use of Funds Raised – Two Exciting Zinc-Focussed Projects With our latest news announcing exceptionally strong zinc (Zn) and lead (Pb) grades at Cerro Rayas, this is an exciting time to be an Inca shareholder. In short, the Company can now anticipate drilling at two projects, a maiden campaign at Cerro Rayas and a Phase 2 campaign at Greater Riqueza, in late 2017/early 2018. Cerro Rayas has grabbed the most recent headlines with multiple plus-50% combined Zn + Pb assay values being recorded. From the 78 channel samples taken to date: - the top-10 Zn results are all >30% and average 37% - the top-10 Pb results are all >20% and average 28% - peak values include 42% Zn, 46% Pb and 229g/t silver (Ag) and - average values for the entire program include: 9% Zn and 8% Pb. These are extremely strong grades and, importantly, are from channel samples, which are a good indication of the in situ grades. The Zn-Pb-Ag occurrences at Cerro Rayas strongly suggest Mississippi Valley Type (MVT) mineralisation albeit the grades at Cerro Rayas to date are significantly above the average for MVT deposits (the latter being 8% combined Zn + Pb). Excitingly, with only first-pass exploration performed at Cerro Rayas to date, there are a total of 27 breccias known already. These breccias are similar to those containing strong mineralisation and the vast majority remain untested. The Greater Riqueza Project (Riqueza) has also recently produced very positive results across a number of concurrent exploration programs: channel sampling, reconnaissance sampling and Phase 1 drilling. Mineralisation exposed in the largest underground mine working at the Humaspunco Prospect was recently channel sampled. Two large veins exposed in the galleries and stopes returned values from several channels ranging 2% > 22% Zn, 50g/t > 240g/t Ag, and 2% > 18% Pb. 8 In reconnaissance sampling several new mineralised veins have been identified, among them, a vein with 3.75% Zn, 136g/t Ag and 3.13% Pb, and another vein with 6.52g/t gold (Au) and 194g/t Ag. In recent drilling, grades associated with manto and vein mineralisation have been positive. In drill holes RDDH-013 & 14, manto mineralisation, occurring at shallow depths and almost parallel to the surface, has returned values of circa 4% Zn, 100g/t Ag and 4% Pb. In several earlier holes, vein mineralisation with varying grades, up to 13% Zn, is now known from surface to depth of >400m. Disseminated mineralisation has also been identified in holes drilled into a large structure (the Callancocha Structure). The strong belief from exploration conducted at Riqueza so far is that Inca has discovered a very large 5km x 5km intrusive-related mineralised system, including carbonate hosted replacement Zn-Ag-Pb mineralisation (Humaspunco prospect), epithermal Au-Ag-Zn-Pb mineralisation (Uchpanga and the new Colina Roja prospects) and skarn copper (Cu) mineralisation (Pampa Corral prospect). Ten mines within 50km of Riqueza exploit deposits with this type of mineralisation. The Company intends using funds raised under the Entitlement Offer to conduct exploration at both the Cerro Rayas and Riqueza projects, with remaining funds to provide the Company with additional working capital. It is the intention to drill at both projects as soon as possible. In the case of Cerro Rayas, to commence our maiden drilling program. In the case of Riqueza, to commence Phase 2 drilling. Please read this investment opportunity and Prospectus carefully. An investment in the Company contains specific risks which you should consider before deciding to invest. If you are unsure, or require further information, you should obtain the appropriate professional advice. The Board looks forward to reporting strong exploration results from both Cerro Rayas and Riqueza in the near future and looks forward to your continued support.
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SilverDJ · May 22, 2019

Huge volume today, ASX asked for a "please explain".

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ICG - Inca Minerals

silver kooka Active Member

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ICG - Inca Minerals

silver kooka Active Member

StewyD32 Well-Known Member Silver Stacker

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