This is very interesting and can be highly significant. I wrote about just this about two weeks ago. I will do a write up on this drilling in particular.
The disappointing thing for me is that its a private company that is going to end up with 80% of it and IVR has a high MC. Justified on the basis on Paris perhaps but it makes for a poor speculative instrument on this discovery. I would prefer if they had 100% of the ground and a 5 mill MC.
Cheers,
CC
Ann: Copper intersected in Stuart Shelf JV drilling, page-23
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