Pretty much.
There is however one other key point which is when the Tanz government asks what exploration are you doing on your other tenements the answer changes from "Doh I hoped you wouldn't ask that" to "We have entered into one farm-in arrangement and are looking at others so that these tenements have exploration creating the potential for more mining, jobs and royalties for the Tanz government and its people."
Much better answer when you are trying to get your SML approved by that same Tanz Government.
Ann: AngloGold Ashanti US$9m Gold Agreement, page-5
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