PRX 16.7% 0.3¢ prodigy gold nl

Ann: Bumblebee Gold-Copper-Silver-Lead-Zinc-Cobalt Discovery, page-79

  1. 11,881 Posts.
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    Agree Chef, still very early days for the IGO/ABU J/V.
    I am not sure if anyone has talked about the details of the announcement, but it would seem that IGO and ABU will soon provide the market will more information regarding a renegotiated J/V.

    abu1.jpg

    As explained, ABU gained a further 4,900 square km beside the current IGO/ABU J/V, which I can only assume means that IGO wants to include this within the J/V. Hopefully this will mean that IGO will increase the amount of funding for exploration. Also, IGO was due to decide on whether to opt in for Phase 2 of the J/V, this has been delayed, but... it originally would have included $1 mil in cash to ABU, or... a $1.5 mil subscription in ABU shares + spending $6 million over 4 years on the tenements.

    Also, ABU/IGO have also farmed into an MLX tenement. So it would seem that there is a lot going on, plus closer ties with IGO which whilst very early days, bodes well as I think IGO are a very well run company.

    ABU/IGO farmin 2013
 
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