Some weeks ago, there were quite a few posters who were assuring everyone that the recent JV deal with SFR was a scam, a disaster for holders, etcetera. Were they right?
Will said posters now admit that, yeah, probably, it was a good idea to let SFR take the reins?
Some people were convinced that various technical luminaries at RNI/AUR were the duck's nadgers as far as finding VHMS's goes. One of them is now 2 from 2 for not finding VHMS mineralisation on ground he's been exploring and which SFR picked up. Is he still a guru?
Further, since there's been a spill at AUR's board roughly in line with the timing of this JV, were the old board the worst (for doing the deal), or are the new board the worst (for rolling them)? If the old gurus couldn't find it, and the cachet of so-called expertise is now trashed (IMO), whose gurus are the gurus you back to find AUR a VHMS of its own on the ground not on SFR's JV?
Are Sandfire's gurus actually gurus? I mean, they drilled 120,000m of aircore last year and an equivalent amount for several years previously, and found absolutely diddly. I think the company has spent in excess of $100M (please, correct me if I'm wrong) exploring the basin with industrial quantities of drilling, and has found 2 VHMS's. (aside: this puts into perspective the chances AUR has of turning up one on its ground with $2-5M p.a. of drilling) Are they gurus or just pattern drilling the area?
Finally, should AUR just not let SFR gobble them all up, and let the guys with the deep pattern-drilling expertise take over the reins on the remaining tenure? It only takes 130 AC holes on your tenement boundary to find something!
AUR Price at posting:
10.0¢ Sentiment: None Disclosure: Not Held
