Re Boadicea, I think this is how it reads, correct me if i'm...

Re Boadicea,
I think this is how it reads, correct me if i'm wrong.
From IGO's perspective they get further exposure to the Fraser Range (right in among CR1's tenements) for 5 years by spending 7m, ($5.5m upfront & $1.5m subscription at .24c)
The further $50m outlay is risk free as its contingent on a discovery and JORC anytime over that 5 year period.

So for $7m BOA sold their ticket to the big one while holding on to a potential $50m payout and .75% return
If IGO hits a $1b nova then the $50m might look a tad light.
If nothing then BOA has $7m cash.
This deal favours IGO as you would expect.

I doubt CR1 management would go for a deal like that, they are well positioned personally for the tectonic upside with little need to sell out.
I'd certainly rather they play the odds.

IGO is further declaring their hand regarding confidence in the region for another major find and this aggressive action should benefit all who are positioned along the dotted line.

LEG about to come out of a halt and GAL about to go into one.