Ann: Breakthrough Results at Mt Alexander, page-112

Thanks for that Meteor, It was a bargain basement buy for SGQ and was a win -win for WSA as they were focused elsewhere and did not have to expend a cent to have a 25% ownership over E29/638

The only long term downside for SGQ is (a) conditional off take rights to BHP and (b) the royalties. However, when you balance that up against the $0.3m cash payment to BHP it is an absolute bargain for us as SGQ shareholders.

WSA will have to kick the can eventually and they will do so in the early stages as it will be a minimal drain on their revenues while ni prices are still relatively low. WSA is unlikely to mount a hostile TO bid when they can have a slice of the pie for a few pennies as a contributory to the mining start up.

The corporate action will come later and most probably when/if the new MT targets hit the jackpot.

cheers
Mulac1