Concerning a farm-out to SFR of Doolgunna with a potential joint...

Concerning a farm-out to SFR of Doolgunna with a potential joint venture to follow, you only have to examine the situation between SFR and TLM to see what position the parties can get into if something good is discovered.

Would RNI want to go down that path?

Indeed, would SFR want to go down that same path again?

It began in Dec 2013. Here is the link. http://clients2.weblink.com.au/news/pdf_2\01478832.pdf

SFR ran the show and it spent the money until a certain limit was reached. TLM had no say and it had to wait for news from SFR about progress which was at SFR's discretion unless required by law or contract. It put TLM into a straight jacket imo for quite a long time. ALY is in the same position with IGO. It's quite suffocating.

Then Monty was found. TLM's SP jumped by quite a bit and TLM bathed in this sunlight for a period, but then reality hit. See this 4-year chart which is current.
TLM decided to JV and so had to raise capital, I think $20+m at 45c, so as to have the money to support the expenditure to explore, drill out Monty and do the feasibilty study etc. Now it's forced into borrowing a lot of money to share mine Monty 30/70. It's been caught I reckon. It really did not have much choice and of course SFR's DeGrussa plant processes all of the copper.

Now, should RNI put itself into that sort of constrained position? I certainly hope not!

It must be noted too that TLM farmed-out all of its Doolgunna tenements. In fact that was all it had at the time. RNI has plenty of other Bryah tenements though, so that is a difference that favours RNI over TLM. But think of this, and I think that this is the cruncher. What if RNI farmed-out Dool to SFR and Cuba turned out to be minable but in the meantime RNI discovers minable copper way to the west at say Wodger? It would be caught at Doolgunna, stuck with a shared mine and with all of that copper to go to DeGrussa and yet have to possibly build a new plant at Wodger or dilute its holding by bringing in a big partner. All good news apart from the massive expense of having to mine in 2 different places. It might work financially but it would be a great financial strain imo.

It makes me wonder though whether or not it would be worth the expense and delay of building another copper plant at say Wodger. Why not process all copper at DeGrussa? However, that would mean a rationalisation of corporate affairs involving at least 2 companies.

But here's a possible twist! Use Fortnum instead. Add a copper circuit. Now think about how that might happen!!

So far as SFR is concerned, would it like to do the same with RNI as it did with TLM? I don't think so!

Just some Good Friday thoughts.