Valor will retain significant exposure to the upside potential of these assets via a 20.58% shareholding
in Firetail on a fully-diluted basis as well as a retained 20% project-level interest.
Final drill permitting has recently been secured for the Picha Project, with a maiden 5,000m diamond
drilling program scheduled to commence in October 2023.
Ann: Firetail Shareholders Approve Acquisition of Copper Assets, page-5
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