The Wandanya ground abutts TKM's manganese leases that were the old Spitfire project. SPI proved up a resource of about 11mt@15%mn and containing 15%fe also.
TKM is looking at a jv or divestment of the project as they focus on their other minerals, so maybe something for BCA to look at to increase resources at some stage.
I see that Q Gold are edging toward compulsory acquisition of CWX, BCA's jv partner in the Flanagan Bore project (BCA 75% CWX 25%).
Q Gold mentions a dispute with BCA over the annual budget for the jv in their Independent Report given to CWX holders. Since BCA earned their 75% ownership, CWX, now a subsidary of QGold will need to contribute 25% of future funding.
BCA will soon require further funding to progress their jv once the dispute is settled, and to explore their 100% held ground, which Wandanya is part of. Maybe the drillers will take part payment in shares as they'd be getting them at a batgain right now, though Q Gold's so-called Independent Report only put a value of $1.3m on their 25% ownership of the jv with BCA.
BCA Price at posting:
7.8¢ Sentiment: None Disclosure: Not Held
