Ausquest- time to buy?, page-44

From the S32 Annual report yesterday, there were five mentions of AQD. Nice for a "credible" (S32's words) micro cap explorer to get so much attention from an established materials sector player.

My takeaway from this is that S32 are locked and loaded to spend just shy of 5x AQD's market cap on exploration this financial year. Even if they spend half of their exploration target/budget on AQD...wow, just wow. I'm excited. DYR

AQD still flying under the radar.

I'm kicking my self for closing a long position of 1Mn shares at 1.5c - went long again today. Strapping myself in for the longer haul.

Mentions in the s32 annual report released yesterday.

1) This year, we entered an early-stage exploration alliance with AusQuest with an initial focus on prospects in base metals in Australia and Peru

2) In looking beyond our portfolio we partnered with credible juniors on a number of greenfields exploration opportunities: ■ A strategic alliance with AusQuest to advance exploration programs for new nickel and copper projects in Western Australia and Peru

(my note: mention 3 was along the same lines as 2.)

4) We expect that our FY18 exploration expenditure will increase to US$42 million, which includes the additional spend on AusQuest Limited (a strategic alliance targeting opportunities such as copper, zinc and nickel in Australia and Peru), Cerro Matoso and Illawarra Metallurgical Coal.

(my note: this was up from $28.8Mn PCP and did not include any material expenditure on AQD.)

5) Also, relating to their CEO's scorecard: To identify new opportunities to compete for capital: Trilogy option agreement, AusQuest strategic alliance and Arizona Mining investment