correct re $20million being inadequate to explore out a deep IOCG. When we first started kicking around the idea of a JV at Mt Lamb it was more like $50-80million but inflation and subsequent insight into the challenge here might see that number at $100million plus. Not IOCG but DEG have raised much more than that to prove out Hemi and it’s still going.
A JV is a necessity but the hope was probably that drilling luck might improve the cost of a JV for shareholders. We’ve got a technical success on our hands, that doesn’t excite the markets but maybe the geos at an aggressive driller like IGO could get keen tj get their hands on it.
Ann: Quarterly Activities Report - December 2022, page-24
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