Nice start to the week.
If I read that correctly, S2 gets a straight up A$1.7 million cash injection and A$6.2 million in shares of Outback, representing approx. A$7.9m total consideration value for the Finland ground.
Clearly Finland was no longer the focus since Victoria, last announcement for drilling was back in October 2021. But they had been getting some half decent results there prior….so this gets the drill turning again, only not at S2’s expense…yet we retain significant exposure to any success on that ground via substantial equity holding (35-45%) in Outback.
Plus, S2 get the option to add substantially to the ground position in central Victoria by earning majority interest via exploration spend alone of over 4 years on the OutbackGold projects.
Add to My Watchlist
What is My Watchlist?
