IMO this ann has placed Copper Wolf as a Tier 1 Prospect -...

IMO this ann has placed Copper Wolf as a Tier 1 Prospect - whether you call it Tier 1 Discovery probably simply comes down to risk assessment atm.

All eyes will be on IGO as they decide what to do - but they must do something. I have not got the details at hand, but there will surely be a deadline for them to take the JV option, and commit the $15 million. Or walk.
But now, even with only surface exploration BUX has changed the whole complexion of the project.

The question is - How can IGO proceed without access to the surface porphyry, and (as SF2TH says) the possible major feeder?
Of importance is that IGO's SP is under pressure, due to the fallen Li price and questions over the life of their Ni mines - only today they anned

IGO Price Target Cut 36% to A$9.25/Share by RBC Capital Markets

Frankly I think that's an absurd valuation, because I have an appetite for lithium. However I think it gives BUX more strength in talks.

The outcome of further negotiation should see BUX share of a JV over the whole area substantially higher than the current 30%, with IGO still committed to the full $15m.
Or of course we might get offered a scheme with IGO shares or cash. They have $500m cash in the last financials I read.

Cheers.- not advice.

ps IMO we may be looking at a lot of M&A as the commodity cycles bottom out and start to rise.