Anglo plans to drill test it sooner rather than later so we will find out in few months what this deal is worth. Yes, Phase 1 is only worth $2m but the ground looks prospective and it only takes one hole to return decent result to make Anglo proceed to phase 2.
Important thing is there is drilling activity. Earth AI are also drilling right now at another JV with KCC.
And KCC are still negotiating more JV deals in NSW while still talking to prospective buyers of their Mongolian portfolio.
There are risks for any of these deals not to materialise but there is risk with everything.
I think we will soon hear of another JV in NSW as KCC have been talking to interested parties for while and the Anglo JV deal is only one of those JV talks.
all my own views.
no fin advice..
Ann: AngloGold Ashanti to earn-in to the NJNB Project, page-6
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