This is a very interesting development. Firstly because Rob's response to a question that no ones asked (haha) was "I can't comment on any other JVs at them moment".
Secondly, Rob is clearly being very strategic about what he's planning to do post-Tennant Creek - why buy a field when you can JV in for peanuts? He's learned a lot from the EVN experience I suspect. He's going to be sitting on a fat pile of cash and now's he's got prospects in NT and NSW. To me it confirms he's committed to the sale of TC and that he won't simply return the cash via a special divvy. He's going to build ERM into a legit producer.
Massive task that will require massive capital. Hopefully, he's lined it up so we don't have to do a CR before the sale of TC.
Good work, Rob.Go ERM!!!!
ERM Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
