If AUZ find a massive copper deposit, to pay $350k for 80% of it...

If AUZ find a massive copper deposit, to pay $350k for 80% of it will mean zilch. The exploration money spent then will only benefit themselves. It's well worth the effort and expenditure imo. We are talking about some of the best copper land in Australia!

It's not likely they will find much gold with the areas in question because of geochemistry, drill and EM work already been done indicating high copper samples mainly, possibly zinc and nickel. If gold is in the mix of a copper, zinc or nickel deposit AUZ get 80% of everything anyway.

Essentially LSR could be giving away a massive copper deposit for $350! Depends what's there but it is a compelling target.

Unfortunately raisings are a part of small cap life but you'll find LSR will have to do it down the track as well and when times get tough cash is king. Very hard for resource companies to raise decent cash these days so if you can raise $1m in this environment you are doing pretty well imo. Obviously the recent gold results would help also.