https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research...

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2995-01959416-3A489463?access_token=83ff96335c2d45a094df02a206a39ff4

This is the original announcement re: the Farm-In Agreement with Olympic Domain folks – from update on 7 March 2018.

Total expenditure on exploration since the start of the agreement is approx.~S2.1m as per audited results (see previous quarterly financial statements below). The majority of this $ was spent on exploration for Horsewell(see quarterly updates on activities). This is all publicly available information and I wanted to include this here in case any of you were having doubts.

So in my view, this is a non-issue. $1.5m has been spent within the timeframe. One way or another, imo this will be resolved in Cohiba’s favour, although admittedly it would be a bonus for this to occur sooner rather than later (to remove a perceived sense of doubt from the market). If it does dragon, we are very likely to have costs awarded imo.

It will be great to see some detailed analysis on the assays, however I think we should all be excited to see the plan for the next stage of drilling. Defining the zonation and mineralogy of the (potential) IOCG system will be crucial through the next stage (and potentially finding chalcocite would be a game changer). All the right smoke signals are in place:

1.Chairman buying up big after visuals and likely following feedback from IOCG subject matter experts.

2.Presence of Bornite in HWDD04 and mineralisation over 300m+. This is a significant hit in the first round of drilling.

3.Right next door to BHPs Oak Dam West discovery.

I think there's a strong chance we'll be wondering why we didn't buy more at these current prices in a few weeks.

IMO, DYOR