Creasy did not vend any of SIR's ground into ORN. It was ground...

Creasy did not vend any of SIR's ground into ORN. It was ground that Creasy had seperate control over.

Its a brilliant move by Creasy. As with SIR he still owns 30% of the ground directly. Also as with SIR, ORN is taking all the risk with exploration, discovery and taking it up to feasability stage.

Creasy is the biggest owner of exploration leases in Australia and it would be impossible for him to carry out exploration works on all of them. The expense would be enormous. This way he has others do all the work and take the quite considerable risk while he retains enormous upside as with SIR. It is only with SIR's discovery in the Fraser Range that he has been able to parlay more leases into other public companies such as ORN who are willing to take on that risk.

ORN as per todays announcement seem to have already possibly identified a new "eye" on a Creasy lease. Long way to go though.

Also, ORN will be drilling in the next quarter on their very promising existing leases nearby.