for those that decided to apply for the shortfall (myself included), you know why you did that and should feel confident in your decision. although I was slightly ticked off yesterday, I always knew it would occur. this is what happens when there are options attached. on the flip side, would be have been over subscribed if we didn't attach the options? probably not. in the grand scheme of things, it was necessary.
on a better note, for those that have yet to do some research in Frewena, I highly recommend that you do so. I also recommend that you swing past the newcrest website and look into their presentations. particularly the one concerning the NT prospects which was released this year.
I can see why our good Doc and the team are getting a bit of a tickle from this. I for one am no geo and have to rely on google with the majority of announcements. however, what I do have a grasp of is real estate. having real estate next to 'big boys', our current granted tenement is not something to take lightly. also, the tenements we are fighting for are obviously not for 'fun' and might have some serious economic resource.
given NT Government are willing to assist with exploration and the fact that we can piggy back off any newcrest drilling near our tenement, we have opened ourselves up to many options, JV with newcrest not necessarily being one of them.
also, don't discount that we are in bed with S32. they have 'lots' of cash to spend. look at their buy backs on the daily. they have so much cash they have no idea what to do with it and you can sure bet that if the upcoming results from the assays look half decent, they will drill the s$&t out of Riqueza! they need to get some value back to their SH's as their SP has been on the decline. for them to start even remotely competing with the likes of Newcrest, BHP's and Rio's of the world, they need results!
I am not telling anyone to hold, sell or buy.... please make your own decisions, however, for what it is worth..... a sniff of a positive hole will send this through the roof and Lockitt will most certainly get a nose bleed! GLTAH
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