Hi Guys, Anyone know what's going on with Davenport since the...

Hi Guys,

Anyone know what's going on with Davenport since the In-specie distribution to Arunta shareholders?

I tried emailing Arunta but didn't get any reply, trying to find a contact for Davenport to confirm whether the proposed IPO was still going ahead per the announcement below:

http://potashwest.com.au/wp-content...-Term-Sheet-to-acquire-South-Harz-Project.pdf

It looks like GWR paid Davenport $500k to buy out the remainder of Hatches creek (announcement below) so they should at least have some pre-IPO cash in the bank:


GWR consolidates Hatches Creek

TUNGSTEN-leveraged GWR has acquired 100% of the Hatches Creek project in Northern Territory and is looking at the potential for initiating production in the short term at the historic project.

• Michael Quinn​
• 12 May 2016​
• 9:10​

Hatches Creek
TungstenGWR GroupAustralia
Stockpiles, mineralised waste and tailings at the project southeast of Tennant Creek have been estimated at 225,000 tonnes grading 0.58% WO3, which GWR suggests is relatively high grade given the average grade of the eight deposits being explored or developed by other ASX-listed companies is 0.34% WO3.
GWR paid $A500,000 and granted a 1.5% net smelter return for complete ownership, having previously being earning a 50% stake by spending $1.5 million on work at the project.
The vendor was an unlisted company called Davenport which emerged with the project after the demerger of ASX-listed Arunta Resources back in February.
GWR says there has been no substantial exploration or mining at the project area since 1957. Mining took place at the project between 1915 and 1957.
GWR is also a major shareholder in ASX-listed Tungsten Mining.
GWR had cash at the start of the current quarter of $11.6 million, with shares in the junior trading this week at 4.1c – which capitalises the company at about $10 million!