Ann: Mako Exploration Update, page-7

Even MPK has a higher EV and they have no resource and have just started.

Big questions are whether they can get a good deal on that *extensive* Mn project, the licence hold up on the Au and the Li and how much more value will be diverted to Goldridge.

I wonder how much bigger the exploration budget will need to be after any deal. The deal itself is possibly just a smokescreen for another capital raise. But if they can bring a resource to the table after the initial drill of 300koz or so... then it might be reasonable for both parties. But no mention of any resource being produced and they probably have not even designed the program for that.