does any one have any idea, page-43

Okay, Wolverine, let's apply a qualifier and say Spasskaya has 'the makings' of a Tier 1 project. As you observe, it is as yet at "advanced exploration" stage and some distance yet from JORC "measured".

And yes, money WILL have to be spent to achieve tht 50% earn-in.

But I guess the crux of the matter is the reliability of the Soviet-era data. Jordan has a great deal of expertise precisely in this type of geology ...has walked the ground and viewed the data.

I can tell you he IS most excited, both at what is already apparent, and at the exploration potential. (The rumoured RIO interest in Spasskaya very real, I understand.)


As to the market ...its vagaries seldom surprise. Though with that said, it IS mildly eyebrow-raising that the HoA on such an exciting project on such terms has resulted in an actual diminution of the Company's perceived prospects.