Nice work. Quite the tangle! I think you are spot on, with Southstar Diamonds/Resources (I guess they could be different, but I assume it’s just different naming) being a private entity, looks like it was deregistered in 2009. Below, snippet taken from a 2009 press release from IGO: This other research note from just after the Long Nickel acquisition gives a bit more info on the Southstar database:
All that said, I still can’t get my head around how S32 have somehow retained or lay claim to this “WMC 1.5% gross royalty” I mean I understand WMC>BHP>S32 and all that, so technically I can see how a royalty might be retained and carried through in relation to a specific license etc. But I just don’t understand how it works if Independence Gold staked vacant ground and then eventually made a discovery, even if it was in some part informed by the use of a geochemical database that was under an agreement….seems like a longshot imo, but I guess it depends on what is contained in the original Southstar-WMC agreements etc.
IGO Price at posting:
$7.29 Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)