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CYL had to spend the first $3M on it

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tedarcidi

2,032 Posts.

42

30/04/20

21:22

Post #: 44366650
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Originally posted by Thatsoldmate ↑

In regards to the 4 blocks open for tender the Gov stated that size doesn't matter and that other factors such as company culture, ability to work with current landholders and indigenous issues, health, safety and environment compliance record etc are going to be factors in making their determination. I'd have been disappointed if they didn't tender as i think that NML having been working in Victoria for many years would have a good rapport with those in the relevant agency's and would have a good chance at a block with some deep pockets on the register who know's.

In regards to the Tandarra deal the thing that I always found perplexing is that we gave CYL 51% yet we still pay for our 49% of the drilling costs. I would have thought that we would have said "Yeah you guy's can have 51% but you'll be paying for the drilling," As it sit's at the moment it's as if we gave them that for nothing.

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CYL had to spend the first $3M on it

NML Price at posting: 11.0¢ Sentiment: None Disclosure: Held
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