"You try picking up adjacent land like CDT have next to Novo and unless you pay $30m bucks you ain't got a hope in hell."
Im not sure if anyone will be able to buy this type of land without taking over companies. I believe the market for conglomerate tenements is completely locked up.
This would explain the latest Pacton Gold deal, which was terrible in my opinion from a conglomerate point of view. They spent $2m on two tenements in eastern Pilbara with only 2.3km mt Roe strike and mostly structural gold potential. Seems like is trying to rebrand itself as a structural gold company now that the acquisition of conglomerate tenements has become much more difficult.
Ann: Quarterly Cashflow Report, page-14
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