re: Ann: Change of Director's Interest No...
Its all about the tenements. Expenditure depends on what you have the tenement pegged as i.e. prospecting, exploration,mining etc. Each licence has different expenditure requirements to hold the licence and must be documented for the mines department reports.
Its priced on activity which is all about impact on the area. Obviously prospecting might entail some soil,rock samples and mapping with light vehicle access. Exploration licence gets more expensive with drill rigs samples,bags,ground water brought to the surface etc.
Conglin will do little with ORM as it was just a strategic acquisition for his future bigger plans for the area. It will have to do drilling as per tenement requirements, but basically it will remain a shell and black hole for at least few more years. Look back at the end of 2015 but by that time Conglin would have mopped up most of the holdings.
Not cheap to just tick over a company with all the regulations,wifes wage etc to meet, but in the big scheme of things with Dy its not going to be a pimple out of what these tenements could bring in the future.
ORM Price at posting:
7.5¢ Sentiment: None Disclosure: Not Held
