re: Ann: IXR: IMX signs Heads of Agreement to... BHP has been buying up tenements of Junior miners in the Gawler Craton recently. OZL appears to be following that thinking and moving to full ownership of as much land as possible. For OZL it is a small expenditure with no real bearing on the company metrics. IXR, I think, need the cash. So, in effect, it is a win/win.
While my enthusiasm for finding another P Hill has been tempered from "highly likely" to "not factoring it into my models now"; for me it has been a good learning experience that mineral exploration is a highly risky venture and we should never rely on it.
I am a bit ambivalent to the transaction, it is not material to OZL and there may be some upside, but I am not counting on it.
HT1
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