It would be a very different story if they were exploring a site with no historic drilling. They have a significant amount of data that confirms how prospective the Estelle Project is.
They have also reorganised since last year, changing the leadership of the project, bringing in Dale Schultz who has experience with similar styles of mineralisation and leading gold exploration projects. So they are doing the right things to recover.
What we have is a project that was explored under a significant JV between Millrock Resources and Teck Resources.
https://hotcopper.com.au/threads/an...4155973/page-22?post_id=33638770#.XFMd2aTZXDt
Teck Resources. MCAP CAD $14B.
They let the project go inadvertently / reluctantly. Millrock couldn’t afford to pay for all the tenements since they had another large gold project in play.
2017 Teck were in the top 6 group of Canada’s biggest mining companies. Puts some perspective on the significance of the JV.
https://investingnews.com/daily/resource-investing/canadian-mining-companies/
Ann: Investor Presentation - Nova Positioned for Growth, page-121
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