millways. don't forget this is not the first time that Rio forgot to renew Shovelanna and blamed the courier.... Lucky for CAZ, Rio did not loose it years ago.....
Here was the most interesting part of the presentation:
Formerly held under: 1. TR5003/H (converted to E46/08, 1983) 2. E46/08 (expired 11 Feb. 1989) 3. E46/209 (expired 26 Aug. 2005) 4. Now CAZ owns EL under E46/678.
CAZALY 2005 PREVIOUS 20 YEARS PREVIOUS 20 YEARS Rio Tinto Rio Tinto JV
Total Drilling from 1986 to 2005: 0 holes for 0 metres Work completed included; mapping, a helimag survey, a resource estimation and 10 rock chips.
Total expenditure: $270,793 ($13,540 per annum ave.) In 1989 E46/08 licence accidentally forfeited “…due to postal difficulties…” (1990 Annual Report to DoIR). Re-pegged 3 months later as E46/209.
“The proximity of the Shovelanna mineralisation to the BHP Orebody 18 deposit suggests there may be a strategic value to this tenement apart from any future mineral value.” (1997 Annual Report to DoIR)
No feasibility, metallurgical, geotechnical or other work suggestive of a commitment to mining in the short to medium term.
CAZ Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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(20min delay)