yes, however nowhere near the spike if they do the drilling themselves and hit numerous 300m+ intersections of cu grading anywhere from 0.5% and up, with a potential strike length similar to salobo, proving up a salobo type analogue with their maiden drilling program
then as jandj says - position of strength
of interest - avb had an option deal with vale over trindade nth tenement, not far from the salobo's - vale had a 3yr option worth up to us$30-40m (by memory), with a min us$10m, to avb
vale drilled the tenement, with the result that avb stated a resource had been determined for at least the min amount and they submitted the final expl report to the dnpm
the dnpm rejected the report, as vale did the expl, whilst avb where the tenement holders
it took avb approx 3 yrs of admin/legal action to get that overturned and the dnpm then approved the final expl report (and as is the case with final expl report approvals gave avb back a reduced tenement size)
to this day that deal has never been resurrected (avb got approx us$1m of option payments from vale)
as someone with a good understanding of the carajas and brazilian mining/environmental beauracracies, have observed the icmbio maneuverings likely a liitle differently to the rest of you
with the ongoing delays with the icmbio, the possibility of not drilling the salobo west tenements this year is, imo, now on the radar, as faintly as it may be
if they are not drilling by sept, they will not be drilling this year, imo
you may all view this as negative (and currently don't hold, as mentioned previously, waiting for the icmbio approval, don't mind paying higher for certainty), even unrealistic, however have any of you even thought to contemplate this
the icmbio has been in the driver's seat for some time now (since early 2018)
for me it's always been salobo west 1 & 2, sold large lt holding day after they ann'd the icmbio rejection (may 2018), when they thankfully ann'd drilling results from the tap
would like to see icmbio approval ann'd mon, with firm drilling timeline, this year, would buy back in (along with likely a flood of others)
gltah
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