The cash component is small, probably because SFR knows how much the area has been pasted before and how much more drilling it will want to complete in the area before not finding much, if anything, like everyone else. They only really earn 70% on a commercial discovery. So, it's $3.2M to get in over two years, and then however much to fund a 50Kt Cu resource, and then a JV.
Not a bad deal for SFR, and not a bad deal for AUR insofar as SFR's failure to find something will mean the tenements essentially get handed back.
This shows where AUR reckons its priorities and its best prospectivity are: Wodger and Forrest.
Ann: Sandfire Farm-In to Morck's Well East and Doolgunna Projects, page-9
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