Ann: New High-Priority Tier-1 Targets Identified at Frewena, NT, page-124

Mining will require skills and expertise/experience that an exploration company wouldn’t have at this point. IOCG deposits can be highly profitable but also quite difficult to mine/process. Bhp has the mantra of mixing sulphides in their metallurgical processes to maintain recoveries and grade averages at OD. I have a family member with these expertise as engineer/met working in the industry.

Most likely it will be in a JV to mine/develop a tier one deposit due to costs and complexities. Once it gets to that point share prices remain stagnant until mining is at full capacity as the risks and rewards are evenly balanced. It’s a risky business.

The big plus is that we know we are on the radar of others, we need some good results and the offers will come in my view. Bhp, RIO, NCM and OZL are sniffing around the area.