I second this. It's not the cost of farm-in that concerns me, it's the cost of drilling out a big low-grade porphyry. I can only guess that management has done this deal as a back-up in case the REE drilling comes up with nothing in the next few months.
If we get some good hits at either Mt Holland or Mt Weld, surely we won't throw money at proving up a low-grade porphyry resource.
Ann: RGL to Farm-in to Significant Porphyry Hosted Gold Project, page-7
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