Yes, that is a fair assessment.Drake just doesn't have the...

Yes, that is a fair assessment.

Drake just doesn't have the readies to run with it. They felt they needed to farm out. GMR also realised although it wanted to take OzMinerals place, it didn't have the horsepower to fund it. But of course Royal does and thus the JV does and the JV board yes we'll have have that baby.

I think the JV can farm in up to 75%.

But that still leaves Drake with 25% of something serious.

But it is a one horse affair for Drake. I dont think what they have outside of this project is much chop (maybe I am being too hard).

GMR will become a significant company by the aquisition and growth of a portfolio of advanced projects. failure on one will not change where it is going. They will simply trade non perforing assets out for ones with million ounce potential.

Drake will become substantial off the back of the Swedish project alone I think.

Both stocks will run off the back of the swedich project but only one will run off the back of the Mali project etc etc.

Drake seem to be a passive mob. Farm things out rather than raise funds and have crack themselves. The owners must hate dilution but that fear can mean you also miss out on owning 100% of a jugganaught.

Personally I would have raised a million and pucnhed a bunch of holes into the Swedish project then gone back for more until you had the ounces to warrant a serious major partner paying up big to enter the project.

Drake seem unusualy risk adverse for a Junior. You dont want to bore your shareholders to death, they want actvity, action, drilling.