Mallina has now completed 3,000 metres of AC drilling under what is called the Minimum Obligation Period (MOP)
They now need to drill a further 17,000 metres RC or DD within a further 24 mths to earn up to 51%. If they walk away before completing this obligation, unless amended, the gold rights are retained by Raiden 100%.
Provided Mallina complete the above they will need to drill a further 30,000 metres RC/DD or complete a PFS within 60 mths of the (MOP) to earn up to 75%.
Todays results are far from encouraging so every chance they may not proceed further IMO.
Jim.
RDN Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
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