I agree with you. Not feasible for DEG to fund lag gravels with...

I agree with you. Not feasible for DEG to fund lag gravels with our hands full on structural.

This "Letter of Intent" with Novo is interesting as it's clearly written to cover off an extension scenario while making a path to a JV down the road. DEG keeping Novo out of the loop on Indee Settlement issue would be necessary but I keep get this nagging feeling KL is going to pop into the picture soon. Deal gets better after Indee Settlement and Novo's successful submission of a mining application. Unlike the ARV deal, I think Novo will work fast to this end.

Like Wack I'm going to start buying again once Indee is done. Way too LONG to quit now.

as per release:
Novo can elect to continue to extend its exploration rights beyond the Second Period in two year increments by paying an additional AUD $1 million per extension period, subject to the successful submission of a mining lease application or De Grey’s waiver of this condition.If a mining lease is granted to Novo on the De Grey tenements, Novo will be deemed to have acquired an 80% interest in the relevant tenements (or portions thereof) which comprise the mining lease area (the “Joint Venture”) by giving notice to DEG and making a one-time payment of AUD $2 million. If the Joint Venture is established during the Initial Period, Novo will also be required to pay the Second Payment.