CHN also own a 10% blocking stake in AUC with an advanced gold development project at the Katanning gold project in WA (current total resources of 785koz of gold).
That company is just starting a follow up drilling program on the Jinkas South area, a southern extension of the resource area where they previously hit high grade, wide gold intersection including 26m at 6.60g/t (inc. 4m at 37.19g/t).
Given the current M&A activity at this end of the market with the RMS TO of EXU (in this general area) and the shunned bid proposal for CMM by RRL, this 10% interest might be quite critical at some point down the track. Esh
Ann: Proposed Capital Reduction and Return, page-36
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