Ann: Menzies JORC gold resources surpass 500,000 ounces, page-25

Hi @Fredwah

My understanding is that drilling was completed by FMR, but they are a private company and don’t have to disclose to the market. At this time, FMR have also decided not to disclose the drilling to KWR (if they had / did KWR would need to disclose to the market).

There could be 100 reasons as to why FMR chose not to disclose the assay result to KWR (FMR have the results). However, in my mind, why would they? The more info FMR have that KWR and the rest of the market doesn’t, the stronger FMR’s bargaining position.

As you can see from the video though, the negotiations with FMR stalled / the JV hasn’t been reached (yet). It doesn’t mean it’s dead, but even if it is, Ed seems very confident of monetizing Menzies (not just Yunndaga).

With the recent announcement, I think that KWR is still actively pursuing monetizing the whole of Menzies, they’re just doing it in the background while all the attention is on the lake / drilling.

Side note, it might just be wishful thinking, but if the drilling results were bad, why would FMR care about giving them to KWR? On the other hand, if they were really good…then FMR wouldn’t want the rest of the market seeing why is on offer and competing with FMR for it.