Juniors are far more efficient at grass roots exploration than...

Juniors are far more efficient at grass roots exploration than multibillion dollar mining companies. It's low risk for NST to pay 22c in the dollar to maintain their share of the cash burn and have EAR explore the area for them. If EAR are unsuccessful - NST can just walk away for the pocket change they've already invested. If successful they have their foot on the asset - a blocking stake - and will have no issue, IMO, taking the remainder of the company out if the value is there to do so.

Regardless, EAR is cheap at the moment - and the plant is of value to several other potential suitors in the region should the mkt cap drop much lower. So from my perspective is relatively low risk to be investing at these levels given the asset base they have. Echo have a very unique position compared to other goldies on the ASX.

Make sure you DYOR!