Ann: Alliance Resources to Proceed with Wilcherry Joint Venture,AGS-TYX.AX, page-4

Most companies ask for $2mill to be spent on their ground with drilling, and then they give them a % of that ground.

At least here we bank the $2mill and if they find anything further we still will have a % interest for any upside.

These areas you need to spend to keep, and at this stage they should stick with Jumbuck and let someone else do the hard yards. Better this than spending further money here.

Not saying it was great to lose some of this project, but you can lose everything it if the SA government says use it or lose it.