Good deal for us IMO....
And here's hoping the second half of 2024 can be very much better than the first...
Total - 7 Million CAD
1.5 CAD Cash and 5.5 Million in Outback shares acquiring 35-45% of Outback
Transaction may constitute a "
Reverse Takeover" of Outback...Plus
S2 will also have the option to earn majority interests in Outback’s four Victorian gold projects, as follows: S2 can earn an 80% interest in each of the Ballarat West, Silver Spoon and Yuengroon projects by spending a total of A$1.2 million across the three projects over a period of four years o S2 can earn a 51% interest in the Glenfine project by spending a total of A$200,000 over four years (note: this is subject to a pre-emptive right held by third parties) o Outback will retain a 2% NSR royalty on the Ballarat West, Silver Spoon and Yuengroon projects, which S2 can buy for C$2 million, and also a 2% NSR royalty on the Glenfine project, which S2 can buy 1% for C$1 million • S2 will have the right to a position on the board of directors of Outback as long as it has a minimum 20% ownership of Outback...The completion of the Outback deal should coincide with the Glenlogan commencement of DRILLING...announcement...
That should create a lot of speculative buying IMO
It looks such a compelling definitive target.
Could be the quick game changer we all would welcome instead of the marathon Greater Fosterville is turning out to be....And what a game changer it would be.....
Even if S2R don't market this drilling well you can be assured LGM will they are doing a great job in marketing their other projects and have a great looking chart rising from 0.125c to over 30 cents in the last few months..... 75% of the mkt cap of S2R now....
Also have this to look forward to....
S2 to earn 70% interest in Warraweena
They have a minimum expenditure of $620000.00 by end 2024 so should put a couple holes down
According to S2, this area also contains the most anomalous combined nickel, copper, and zinc heavy mineral concentrate sample in Australia. Bennett says the single anomalous laterite sample collected by the Gelogical Survey of Western Australia led to the discovery of its Nova-Bollinger deposit in the Fraser Range. ""The company recently identified an ‘outstanding’ target area on the presence of coincident distinct, unexplained gravity and magnetic anomalies. ""
https://mining.com.au/s2-to-earn-70-interest-in-warraweena/
(20min delay)