Ann: 30% CU Intersected in Narrow Sediment Horizon at Wodger, page-76

I expect so whatsup, especially E 52/2438 - Doolgunna.

AUR has said that it has lodged a POW to do some RC drilling at Ross's Reef, and ostensibly to see what gold might be there. Reference has been made to the recent nice gold hit by SFR/TLM just over the fence. But AUR has drilled there before.

I know that it won't be wasted, but I wonder if it's primarily driven by the Licence requirement to spend $XX minimum per year as a condition of holding. A check of relevant info tells me that the minimum spend atm is $70k pa.

I think that one important factor here in the Doolgunna area in particular is that any discovery that passes the feasibility study would probably need to have its ore processed at SFR's plant at DeGrussa. (In fact, the FS would only be positive because of the existence of the plant). This would be so not just because it's close but because the deposits may not be big enough, by themselves, to warrant the construction of a separate and new processing plant

SFR had the upper hand with Monty, so its ore just had to go to DeG, but even if TLM still had 100%, it would have been forced to deal with SFR for processing. Indeed, and this is a critical point imo, Monty probably would not be developed without the DeG plant being in existence - probably not economically feasible by itself.

So, unless AUR found a monster at Cuba etc, any discovery of worth should mean having to deal with SFR. That may make one think that SFR would drive a hard bargain, but SFR wants copper feed, so it should be ready to negotiate reasonably.

The ideal way to advance imo is for SFR to acquire E 52/2438 before any discovery were to be made by AUR. Control passes to SFR and AUR gets money to drill Wodger etc.

A post made by Davmarc on TLM 1 June indicates that SFR would have liked to have bought out TLM's 30%, but a very wealthy and stubborn Kerry Harmanis of TLM did not want that to happen. He could afford to keep the JV going too, so it looks as if that 70/30 JV will endure.