THADIUS, I'm well aware of the GFA JV terms that MIGHT in a few years give them an option to buy 50% of Silver Hill, but I don't believe they have a say in the meantime. Their 51% earn-in right is over the Regional Tenements outside the Silver Hill Exclusion Zone, where they could buy an additional 24% based on NPV. Re Silver Hill, their right is only to buy 50%, not 51%. Boy, that 1% difference is chalk and cheese!
BUT, to have any of those entitlements and buy-in rights, they first have to drill the 150k metres you mentioned within 3 years. DRILL FASTER, MATES!!
CQT Price at posting:
40.5¢ Sentiment: None Disclosure: Held
