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Ann: Exploration Update - Sudi Project (Rio Tinto JV), page-4

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seals

9,311 Posts.

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14/03/18

10:18

Post #: 31737922
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Originally posted by seals ↑

This is quite exciting for me because of the great deal Luke has done with Rio. These early results look strong for a significant size asset with good valuable HM component. Rio are targeting a Tier 1 asset and are going to spend $10million to find it. If they don't define Tier 1 it comes back to us at no cost. If that's the case we will have another deposit that's materially significant for STA even if not for RIO and won't have spent anything to define it!

If it is Tier 1, I wonder if RIO might decide to take out STA entirely for the whole of Tanzania? There are problems in South Africa and RIO clearly have no concerns about the direction of the Tanzanian government having committed in full knowledge of last year's mega-foolishness.

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PS That should have been US$10 million potential commitment from RIO.

What will the other sites in the JV show? STA won't end up with the largest or absolute highest value portfolio in the industry but it may well be the most interesting!

STA Price at posting: 13.0¢ Sentiment: Buy Disclosure: Held
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