Alchemy has 1000's of km^2 in land and mineral exploration tenements. It's better to let a JV partner come in and do all of the exploration work and let Alchemy keep 20% on a interest free deferred basis to production than to just sit on all this land that can't be fully explored by Alchemy anyway.
So it's a win win for both parties. However I agree it would have been preferable if Alchemy had found it way back when instead.
Picked up some more shares today given its the rights issue record date. Sell side volume has vanished, might fall a bit tomorrow imo.
Hopefully some positive news catalysts to come this year!
Ann: Positive Drill Results from Hermes South, page-4
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