Quinton HIlls of Boseto discovery fame, sold most of the Virgo resources licenses to Galileo Resources GLR.L. They in turn sold 9 licenses to Sandfire Resources, and also received a $4m usd comittment from SFR to drill, and a potential success bonus of up to $80m dependent on Cu tonnage discovered by SFR. In addition to cash SFR took an investment in GLR.L and GLR took an investment in SFR. GLR kept back a chunk of licenses which now look very well placed given the recent and ongoing discoveries. It's now down to which major offers the $$ to acquire or take an active interest in EACH of the Juniors in what will become a world class Tier 1 district to rival e.g. Chile. It's going to get real interesting very fast.
CBE Price at posting:
56.5¢ Sentiment: Buy Disclosure: Held
