Fortunately it looks like they have only paid $150k for the option, plus the expense of drilling the diamond holes and upcoming RC holes as part of the due diligence. Its likely a good idea to bring the RC rig in and do some aggressive drilling to test the ground better before they have to make a decision to exercise the option, which must be made before 31 January 24. If they do exercise, its an expensive deal of $1.5M cash and 15 Million shares up front with 80 Million performance rights plus ~$3 Million cash milestones possible in the back end across the lithium and gold (subject to achieving significant resource milestones). Good luck to holders and the company and don't be afraid to make the tough call if the DD drilling doesn't deliver before the option period expires.
TOR Price at posting:
15.0¢ Sentiment: None Disclosure: Not Held
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