Does this mean Antofagasta now consider BM1 and BM7 as fizzers and have committed $6m to Lookout Rocks after blowing $7.5m at Yeneena since 2013?
I haven't really been across these earn in arrangements previously and the psychology pretty confusing.
IMO this confusion is what chopped the sp yesterday but as always with ENR no volume so it's only dummies like me who can't work out what's going on? Low sp is always a buying opportunity.
On the one hand Anto stump up $6m on the other, they appear to have abandoned $7.5m?
And for dessert they've announced they are going ahead with further drilling in BM1 and BM7 in Oct either on their Pat Malone (cap raise?) or with a new JV partner
What's your view?
ENR Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
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