chalice and enamco reach agreement, page-2

A little disappointing that this deal covers the exploration upside of the broader Zara project but overall this is great news.

Having the government on board with 'skin in the game' should streamline the approvals process from here and the beyond that the silver lining is that CHN's fund raising requirements from will 'only' be another ~$40M or so (neglecting current cash balance etc)

Aside from that, the removal of the doubt regarding the deal should see the SP improve, although the timing of the announcement following the DOW/Europe tanking overnight could have been better.

Looking forward to exploration results and the finalisation of the outstanding project finance requirements - will be interesting to see if they pursue debt or equity...