Hi Goldinvestunite I queried the NSR purchase idea as you did...

Hi Goldinvestunite

I queried the NSR purchase idea as you did and concluded at first similarly, but then understood it was a now or never decision given our first right of refusal, was triggered by the third party.

Agree the $3 mill could be spent defining extra resources.
The flipside is an inference if you will that the NSR purchase is predicated upon good current confidence that “we’ve already found sufficient to calculate a decent sized JORC” at Wagga Tank Southern Nights & contiguous locations.
Now we may build on a JORC with existing & newly raised cash, and so finalise Mallee Bull’s mine permitting to enhance the end dig n truck scenario.

The processes precedent to development from discoveries to mining often cause wide variations in sp values as people perceptions change, along with the vital spending for a successful discovery (sp up) then a retracement, leading to a wave up, approaching cash flow territory, which also causes ups & downs, as profit results are clarified as either average, poor, or well justified in a high end return.

I’ve menrioned the near disaster Aurelia had experienced and thankfully recovered from and as Rob kindly explained that’s why Peel is being meticulous with the extra drilling (as reported the 11m @ 9% Cu) and careful with engineering studies via the wire log modelling, for Mallee Bull.

If we can emulate the recent proven cash flows such as Aurelia’s and eventually go anywhere close to equivalents in St Barbara’s returns from Mallee Bull and or at an expanded Wagga Tank Southern Nights then we will have a very bright future, and a great share price to boot.
Certainly not advice but my expectation is solid progress from here on, toward the due re-rate.

P.S. where’s the cheeky Mickey these days, he’s been rather quiet, conspicuous by his absence?.
Sarg