Ann: Elixir adds new Taroom Acreage, page-42

Yeah it’s very suspicious that EXR tendered between October and December for this ATP, they must have know Grandis was a dud even before they drilled it!

Only a pessimist could look at this news in a negative way: we spent $5000 on an application, and in return we got a new project added to the portfolio. Considering that 15% of the block is geographically the same as dd1 and dd2, we can kind of get an idea of what that 15% will hold in extra 2C. Even if it’s f* all and worth $500K net profit out of that little block. then he still gave us a x100 return on initial expenditure.

As for the total ATP - again, the next 12 months will be paperwork. Very different to Grandis, which already had permits and native title and everything was ready to go.
So no, I don’t think it is a “distractor” - it is foresight, risk management and long term vision driving these ki decisions.