Don't be so sure littlecorn :) Had a chat to the MD a few weeks...

Don't be so sure littlecorn

Had a chat to the MD a few weeks back

Said they were 80-85% agreed on a WA based Au/Cu project

Weren't looking to buy it out-right, were going to farm-in to preserve the cash balance while they carry out exploration - mentioned it wasn't green fields and had some historic strikes which is good

So assuming we get a JV or farm-in deal where they have to spend minimum $500K commitment, it would still have us cash backed at 9-10c after the exploration, in which time you'd hope they strike and it is worth minimum cash backing + some deposit value

10-12 on project confirmation is reasonable

Happy to be the only buyer apart from the iceberg at 6c