big close coming guesses, page-18

re: new ipo to rival monax Good call Baxter.

Easier for majors to gobble up the juniors who have found something or leverage in through JV's than find it themselves. Juniors often have much better local knowledge.

The tenements were probably held by someone else whilst Stewart was at Homestake anyway.

Plenty of examples of Majors passing too quickly over what turn out to be big deposits as well. Xstrata had Rocklands before Cudeco had it (Mcrae even had a few digs at them to rub it in after they made the discovery! Classic!).

Playing devils advocate now - keep in mind companies have been searching for IOCG deposits in SA ever since Olympic Dam was discovered in the late 70's. Since that time only one other IOCG - Prominent Hill has really been found/brought to production. By my research there are around 20 companies in SA currently exploring for IOCG deposits. Chances are none will find a big economic deposit.

MOX are no certainties either. Core pictures looked okay on the third hole, that is very deep though (over 800m). First two holes are marginal IMHO - the copper appears in shears and there's no telling how far apart those shear zones are. The last one is more disseminated and likely to be more consistent through the hole. May be a big drop after the first assays on Hole 1 are released. Hold for assays on Hole 3 though (my opinion).