I recall the two JV deals gave them $11 million US over the period of drilling. I'd have to go back and read the announcements to confirm this. We're also half expecting further JV deals with majors on additional prospects that would add to the cash flow. There's also options that exercise at 4 cents in November and another lot at 3.5 cents mid 2017. These may or may not come off of course but it does highlight the number of possibilities for cash flow in the next 12 months.
I'm not expecting a CR but in saying that we don't know the scale, timing and cost of any Fraser Range drilling program.
AQD Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
