People fail to understand that Newcrest(Newmont) did this in the past and see these sums of money as rather miniscule. They are discerning in their investments, of course - but they have the financial security and agressiveness of strategy to make these kinds of plays.
They made several other JV's with holders nearby Oberon / Tanami and north of Coyote, around Cloncurry etc... Even Havieron they gave up several times. Their involvement gives them an option at success, but also gives them information of where there is (and is not) gold in the backyard of Cadia. The Lachlan is an amazing ('Premier') mineral region however.
But i am nonetheless impressed by the presence of Newmont, and their funding is a welcome addition to the 'passive' exploration, yes.
KNB Price at posting:
3.8¢ Sentiment: Hold Disclosure: Held
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