asf, the "Mt Colin resource upgrade" announcement on 13 Sept...

asf, the "Mt Colin resource upgrade" announcement on 13 Sept 2011 will confirm for you the size and grade. Also see the "open briefing update with GL" announcement on 7 Oct 2011 which confirms EXS is looking at a sale or royalty arrangement.

I have also been discussing Mt Colin with GL for almost 3 months now. Whilst he obviously can't reveal any non-public info, it does not take a huge leap of faith to work out that the 2 parties they are talking to are the Xmen and CopperChem.

They were aiming to bed down the deal before the end of the year, but it will move into Q1 now due to the sign-off procedures required by one of the parties. This signifies to me that Xmen are the frontrunners and I assume that Xmen would want to buy the resource outright.

I have no idea what the value is, but I assume it will be in the vicinity of what Great Australia is worth only because of the size of the resource. Obviously there are other factors to consider as well.