Ann: Pantoro Secures 100% Ownership of Nicolsons,BNR-PNR.AX, page-18

There are some deals still about.

eg. MDI to pay $2.5 million plus 2% NSR royalty for an Indicated and Inferred 480,000 ounce resource with an existing 600ktpa processing plant .... not bad!

MDI market cap pre the deal was a bit under $3 million and they basically had no cash in the bank. Post deal MC of $10 million (similar to BNR currently)

If BNR can find something similar at around $3 million we still have $2 million in the bank ......... Our current market cap would likely hold up pretty well. I reckon any down spikes on the BNR sp in the short term to anywhere near our cash value will be bought up with gusto, especially given the tight register. We'll all find out soon enough.