Agree with your last paragraph Aussie.
From memory Newexco only found Nova for Sirius almost at the end of the drilling campaign? They would have learnt a lot from that exercise on how to keep on narrowing and narrowing the hunt to zone in. I think this explains some of their confidence levels in taking shares as part payment for drilling services.
They've done this for some of the other Ni jnrs as well though...so must be confident that they have gained a deeper understanding of the Fraser range geology and likelihood of strikes.
On the other hand, if I had to put my cynical hat on, it could be that they make their money anyway and the shares are really a bonus but looks good for all parties concerned.
MPJ Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
