Seems like a fail to me.
So S32 is totally out of the 3 projects in Peru and 3 of the 7 in Australia, so just in 4 of ten projects.
Seems they will need a cap raise to progress the 6 that don’t qualify for S32 funding.
Unless they can find another JV partner which is always hard when you have put lots of holes in without a sniff of anything likely commercially viable.
Fingers crossed on drilling and results expected on these last few, if they don’t show promise an S32 extension after 7 years is looking shaky.
Ann: District Scale Prospectivity for BHT deposits at Balladonia, page-27
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