Nearology on the QLD tenements you mean? They've certainly got some interesting ground. Been getting a sniff to with some of their copper hits. Certainly got a decent sized holding in a good neighbourhood with more applications under consideration. Bulonga is adjacent to the Milo prospect of GBZ. Some of their other drill hits on their other prospects in the area include 6 metres at 4.27% cu, 12 metres at 2.9%cu and 6 metres at 3.2%cu. Cash is a bit tight, maybe a placement on the way? It doesn't look like they waste it or hand it out cheap to mates going by previous issues. Large scale dilution doesn't seem to be their thing.
Potash second stage scoping study underway with results expected this half. 20 -30 year operation envisaged. This project was considered marginal last year with potash prices halved. They have been looking at cost cutting measures so with Potash on the way up it could be an interesting project.
AIV Price at posting:
6.8¢ Sentiment: None Disclosure: Held
