19 cent takeover by IGO, page-32

My understanding regarding the new find that MC has supposedly made in the FR was that it was rumored to be made on ground that owned by Ponton Minerals Pty Ltd a private company owned by MC. They are the organisation that vends the tenements to the likes of SIR, WIN and LEG for them to go hunting for the good stuff. In most cases the deals with these companies are for them to take on the tenements with Ponton retaining a 30% free carry until a decision to mine is made but in this case it has been Ponton that has struck it lucky. see following article with relevant excerpt copied for ease of reference.

https://au.news.yahoo.com/thewest/wa/a/32726882/windward-bidder-unveiling-a-week-off/#page1

Another consideration for Windward is persistent speculation that millionaire prospector Mark Creasy has made a major new nickel strike via privately owned Ponton Minerals, just over the tenement border from the ground Independence picked up from Buxton.