1. Noranda pulling out of Mt Gunson. They are the subsidiary of Xstrata that has spent a few million over the last few years searching for the deep whale cooper body the region suggests might be there. It's been odds on for a while they would leave and I think that's quite good for us. We get back 100% control which means no potential complications with the deal with Torrens on the MG14/Winabout deposits. With it I assume we have the intelligence gathered by Noranda, if there is something down there, that may be helpful in redirecting future exploration.
2. tennant Creek.
Nice to have some government support. I suspect we may not take it up until the company places the balance of the cap raising. At this stage funding a drill program there would drain resources we need to keep solid whilst/if the company is undergoing negotiations on the other projects. That said I would have been rapt if it was the SA govt backing Fowlers Bay.
GUN Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held
