quite right watso. You only get "reservers" by drilling tens of thousands of metres of holes. Look at MNR & it's prominent hill venture. early individual holes were spectacular, price rocketed over $2. Been back to 50c or thereabouts, as follow on drills not quite as good. now back to $1 on deal with OXR paying to PROVE whatever reserves may be there, with guess what ?
"tens of thousands of metres of holes". It will be a couple of years at least before they can talk "reserves".
so you are now punting on what no one on earth knows, what that future drilling will show.
MNR seems the better exposure, as it gives you 2 bangs for your buck & with the drills seen so far & OXR's confidence, MNR seems more likely to have a commercial deposit. It certainly will be "proven" sooner than EBR.
MNR will retain 25% minimum of this deposit, if EBR fulfills the full deal.
cheers,
ned.
trading halt, page-26
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