I too have no idea who took that 5%, more likely a fund or...

I too have no idea who took that 5%, more likely a fund or funds. Related party would have been an OMT rather than on market. However, I’d like to think Peter’s geo colleagues during his tenure as NSW District Manager for Newcrest are now continuing to work at Cadia under Newmont’s control and watching Peter’s progress over the hill with keen interest! The geologist mafia in the LFB is a tight knit group from what I observe. Legend and Kincora etc. have recently added WTM to their maps and referenced Spur in presentations and announcements.



I would actually prefer someone like Evolution buy 20% then use us as a stalking horse to get a bid from a major. We do reference Cowal quite a bit. Back in the day I managed to jag Citadel Resources into Equinox (bought more) then took the cash from Barrick. Wouldn’t a high stakes double takeover premium parlay like that be nice! Newmont is always going to pay more given they already have a mill within distance to Spur.