It is a single award for Frewena Fable Diamond drilling and is capped at $200K on receipt of works done.
So we need to spend $400K I think to get back $200K if we spend more its capped at $200K if we spend less its 50% cost replacement of spent.
So we have to spend to receive to capped sum is how I take it.
So anyway we are now free to move forward with drilling albeit at JE no funding. Now that is out the way we can set forth with RC drilling as stated. Yes it would have been nice to get some assistance but didn't so that shouldn't stop low cost RC drilling ASAP. I expect some notification on drilling team mobilisation soon to the JE Camel Creek location hopefully.
ICG Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
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