Ann: Extension to Cu-Mo Porphyry System Discovered at Surface, page-15

At surface extension of the porphyry would have got IGOs attention.

Not sure if the holders here or general market has tuned in. Although this area or 100% owned tenement isn't as large as the overall bux-igo jv tenements but it's importance to the overall project could be critical.

I recall many reciting that the 285mT Cu resource estimate was too deep.(noting it's shallower than ocelot and that 285mT Cu resource was only based on 100m thickness & not the 450m they've proven in Atleast one area) but anyways they've got the porphyry extending to surface. That's pretty unreal, similar alteration and they've said it is the same system.

This significant increase the likelihood that they may have significant resources much closer to surface in and around the main areas they've been testing. Furthermore it may infact be directly above the main feeder, we just don't know.

moreever, what it also indicates to me is that this whole tenement and the existing ones and the 100% bux owned ones in the areas are significantly under-explored.

If IGO had been considering interest on the existing JV tenement these other ones may be the critical ones that make the whole project stack up. It's then a case of either another earth in agreement on those or at what point does it make more sense to take the whole project or the whole company.

BUX's projects are miles better than anything IGO has in their exploration port folio imo. that's verified by the fact it's these projects they are presenting in their quarterly and annual reports about exploration potential.

some scout drilling will be easily funded internally, would love for bux to do so and then it leverages their negotiation with IGO. remember bux IGO still need to exercise their earn in on the other tenements. I imagine other majors operating in the area may also start to look over the fences and so any external pressure would be healthy.

Also yes graphite bull IMHO they are still looking for JV support there potentially to minimise cash burn. that would be nice and eliminate any requirement for a raise for the distant future.

SF2TH