Best thing is to read all of the releases from the last 5 + months , including the latest quarterly and released Ausmex results .
Fantastic
To clarify -
- “Canteen” ( Newcrest with Exco - JV ) &
- “Mt Freda” ( Ausmex ~30% of new compelling Tier 1 IOCG resource ! )
This is different to Excos first resource, a Copper Resource mainly , built at Cloncurry - this was CCP. (aka the Cloncurry Copper Project )
Exco sold this for $100 million in 2011 . And distributed funds to shareholders .
( as you show h00ts -with the 2011 announcement . Exco sold CCP to Xstrata ,which became Glencore / Mt Isa Mines , who subsequently mined for the Cu there , trucked and processed in Mt Isa )
Smart Exco - indeed !
In 2012 - cashed up after 2011, they acquired or focused in on “Canteen “/ “Mt Freda “ tenements area west of Cloncurry - and assessed .
Then Exco themselves - sold up to SOL , for $95 million !
(Shareholders would have been very happy with Exco management. )
Now here we are - 2018/19 .
Is becoming more clear -
That seriously Newcrest (Exco JV) are looking to mine !?
*Serious efforts and serious money has been spent on secret as yet results of focused diamond drill- holes campaigns , last year .
*Newcrest have mooted - to talk with AusMex - as their ground is mutual to and incorporated with the Tier 1 IOCG resource ; as it was described by Newcrest in Aug 2018 firstly at D & D . ( screenshots to follow )
This we all know .
Now released 3D mapping last week appears to show AMG owned Mt Freda hosts a compelling 30% of a deemed likely entire ore body , with NCM.
The IOCG begins more shallow within Mt Freda historic Mines area (AMG) , and slopes down continuously as a ‘major system’ in and under the Newcrest (NCM) /Exco 70% Canteen side .
Late Sept Ausmex ASX release - is good history for the tenements - and the excitement that been unfolding ! :
