Sorry, a bit wrong in what I posted earlier today in that the...

Sorry, a bit wrong in what I posted earlier today in that the main Side Well block is held in a 75:25 (not 80:20) joint venture with a Kalgoorlie based prospector, Scott Wilson.

From an ASX announcement of 14 July 2020: "Great Boulder has entered into an agreement with the vendor Zebina Minerals Pty Ltd (“Zebina”)whereby the Company will take an option to explore for up to 24 months. During this time GBRmay exercise the option to acquire a 75% joint venture interest in Side Well....Upon establishment of the joint venture, Zebina’s 25% interest will remain free-carried to adecision to mine. Zebina will also retain ownership of all surface gold rights.."

From the appendix of their ASX announcement of 1 June 2021: "Side Well tenement E51/1905 is a 48-block exploration license covering an area of 131.8km2immediately east and northeast of Meekatharra in the Murchison province. Zebina Minerals Pty Ltdcurrently owns 100% of the tenement with GBR acquiring a 24th Month option to form a joint-venture."

From their 2022 Annual Report, released on 29 September 2022: "The Side Well project consists of a single tenement E51/1905, located east-northeast of Meekatharra in WesternAustralia. Side Well covers an area of 132km2 including approximately 25km of strike coverage over theMeekatharra-Wydgee greenstone belt. The project is a 75% joint venture, with Zebina Minerals Pty Ltd freecarried at 25% to a decision to mine."

From an ASX announcement of 7 August 2023: "Great Boulder Resources (“Great Boulder” or the “Company”) (ASX: GBR) is pleased to announcethe acquisition of a number of key tenements immediately south of the Company’s flagship Side WellGold Project (“Side Well”) near Meekatharra in Western Australia.... Great Boulder has agreed to acquire an 80% interest in nine Prospecting Licences from WanbannaPty Ltd, a private exploration company owned by well-known prospector Mark Selga. Considerationfor the acquisition is $60,000 cash and $60,000 in GBR scrip valued at a 5-day VWAP. "

From their 2023 Annual Report, released on 27 September 2023:"The [Side Well Gold] project comprises a 75% GBR-managed joint venture with Zebina Minerals Pty Ltd (E51/1905) and an 80%joint venture with Wanbanna Pty Ltd over the balance of the tenements at the southern end of the project."

From their 2024 Annual Report, released on 26 September 2024:"The [Side Well Gold] project comprises a 75% GBR-managed joint venture with Zebina Minerals Pty Ltd (E51/1905) and an 80%joint venture with Wanbanna Pty Ltd over the balance of the tenements at the southern end of the project."

I did not see any ASX announcements since the release of the 2024 Annual Report that advised that Great Boulder had bought out its joint venture partners so I can only assume that the jv agreement remain in place.

Scott Wilson has had a magic carpet ride from GBR shareholders in that Great Boulder has done a shitload of drilling pro bono for him. Good luck to him I suppose. I wonder whether he will start contributing if Great Boulder's board pulls the trigger to go mining or if he will sell up his interest.

I have to say, after going through all the GBR announcements from 2020, in mining terms back in 2021 and 2022 Side Well was the equivalent of a hot chick, with regular reporting of impressive drilling results and expectations of a great future. It seems relatively faded now with them going through the motions.

Mike Tyson once commented that everyone has a plan until they get punched in the face. I think the opposite may apply here in that the Great Boulder team might have run out of ideas but then gold has started selling for A$5k per ounce. They need to get out the malaise they seem to have slumped into and get that Mulga Bill MRE update and the Ironbark scoping study out and get young Scott paying some of the bills.