If indeed RIO have plans to mine Calibre/Magnum before Winu's ore, as part of the 1st Phase of Winu Project,...that would change the dynamics of the Citadel JV.
The value of the Calibre/Magnum deposits on it's own, would be of greater value to RIO because of their future copper plans in the region. With an upgraded resource & possible higher grade, how many 10's or 100's of $$millions will AZY be looking to earn in 3 years time from Calibre/Magnum alone?
RIO'S new CEO, has publicly stated very recently that he wants to double down & put all their energy into developing new projects especially Winu, and also take bigger risks. At what point would RIO be willing to make an offer for Citadel? Does RIO want a long drawn out process, or they have some money set aside factored in for making a purchase if exploration success reaches a high point?
These are just my thoughts, and from my perspective it appears RIO'S attention has turned to Calibre/Magnum as primary feed for the Winu Project
Ann: Trading Halt, page-126
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