Our MC is sub 9m currently. Newcrest will undertake a 10,000m drill program and has spent 6.3m to date...
They'd surely be thinking of taking us over in our entirety if they get a sniff of anything decent. Given MC's position, the JV terms wouldn't make logical sense to see out, and they may as well lob a bid for the whole company rather than continue spending 25m and only take up 75% of Mt Coolon. The news of them starting their drilling campaign couldn't come fast enough; I still think we multiply back up to 40-50m if they get a few solid hits or dusters we fold given our current position, It's a joke at this stage how far we have fallen.
Ann: Quarterly Activities Report and Appendix 5B, page-30
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