"Alicanto is now initiating targeted drilling to assess resource potential in the Arakaka district, and seeks investment partners that can participate in a 35% contribution to a Barrick scale gold development project."
Not mincing their words there, they are looking for partners to help contribute to 35% of the development costs of a potential mine at Barrick scale (>5Moz).
The terms of the earn-in are that Barrick received 65% of the project by funding $10mil in exploration costs and Alicanto can continue to be free carried right down to 2% royalties on mined gold.
By seeking partners to participate in a 35% contribution to the project it seems as though they are a) very bullish on the prospects at Arakaka and b) have no plans to dilute further and will attempt to pay their way from exploration success right through to first pour.
AQI Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
