My understanding of dogleg is that BUX carry current share to...

My understanding of dogleg is that BUX carry current share to feasibility stage where IGO fund all exploration. As an example Nova paid approx $1.8b to buy nova as an effective development asset. Not suggesting dogleg is a nova scale, but is very promising, and if it does happen to be then there is a lot of value on offer for BUX, especially considering no exploration $ need to be spent. Effectively a free option on a very promising project.

Copper Wolf IGO have option to trigger 70% of ownership if they spend $5m on specific tenements. BUX own more ground 100% in almost all directions. I believe IGO have last rights on these grounds but no more than that. The likes of Wolverine 100% is being drilled by BUX soon with potential for at/near surface mineralisation in the same system as the JV ground. BUX also finding promising ground to the west of Wolverine and east of the JV ground. So BUX have key partner who is going to spend material $ on main existing system (assuming IGO trigger) still retaining 30% with significant upside on material 100% grounds potentially more prospective given closer to surface potential. Sounds like not such a bad position to me.

Then BUX also have 100% ownership on very high grade graphite project.

To me seems a good mix of ownership with a well resourced partner who can take the projects forward whilst retaining good share and upside. Remember BUX is only a $20m market cap company.

Thats just my interpretation of the assets and structure. If you see it differently or there is more to the arrangements with IGO than are not immediately clear would appreciate you clarifying.