The Prodigy Newmont earn-in was a little different though...

The Prodigy Newmont earn-in was a little different though because it was starting from scratch in the desert. This area was of interest to Newmont only because they own the nearby Tanami mine and any discoveries could leverage that infrastructure. But Newmont didn’t know of any mineralisation when they entered the arrangement. It was greenfield and speculative.

In LGM’s case, mineralisation is already located and deemed to have strong potential. That speeds up and de-risks exploration a lot. Also, LGM is the operator for the first phase, so they are free to do their work using Newmont’s money. That takes away roadblocks associated with large companies being cumbersome and slow which was an issue with the Prodigy earn-in.