Corporate Update Further to the ASX announcement on 7 April 2017...

Corporate Update
Further to the ASX announcement on 7 April 2017 RNI’s Board is currently progressing negotiations over competing transactions proposals and will provide all shareholders with an update on these proposals in due course. However no assurance can be given that a proposal or any other transaction will materialise.

That's the wording B. I can't see any difference to the earlier statement except for the addition of 'progressing'.

I have been pumping a SFR buy-out of RNI's Doolgunna for $$$$ for some time here now. It would make sense for both sides! Yes, 'cashola in the bank to explore elsewhere'. YBB! RNI has recently added 2 more spots (Chunderloo and Citra) to explore so $$$ needed there too on top of Wodger etc.

Now that you are here B, the Figure above shows Narracoota Formation Volcanics (NFV) and Ravelstone Formation Sediments (RFS) and earlier depictions show them too plus Horseshoe Formation Sediments (HFS) . Here is a site that you would be familiar with. The Overview is of interest to non-geos like me. http://www.ga.gov.au/provexplorer/provinceDetails.do?eno=464708.

What is the interplay between the NFV, the RFS and the HFS here at Wodger? In asking this question, I am mindful of this statement in the 27/7/13 ann re Big Billy just to the north of Wodger:

The identification of a key stratigraphic horizon between the Narracoota Formation meta-volcanics and the overlying Ravelstone Formation, that is interpreted to act as a prospective mineralising “trap” position. This position is analogous to the location of the Horseshoe Lights Cu-Au base metal deposit;

I am treating Billy and Wodger alike from a geological pov. If that is a correct assumption, then how did the RFS trap the NFV mineralisation? The depiction above does not show current evidence of that. I'd like to know how you read the situation please!

Base metals formed below erode to virtually nothing on the surface because of millions of years of effects of the weather etc, so they need to be trapped below the surface to remain of value. Right? The situation at Wodger as depicted shows weathering in the oxidised and transitional zones. We know that it is well-mineralised though and therefore the expectation is of chalcolpyrite etc in the hard rock plus chalcocite secreted away (hopefully) somewhere in the transitional zone. That's what we hope for eh, and with good grades and widths too.

Anyway, back to the question. How and when did the RFS trap the FMV min'n if, as it would appear, it no longer keeps it trapped. Subsequent faulting and folding has moved it?