The current market cap of CQT is around $200 million. If...

The current market cap of CQT is around $200 million. If Goldfields sought to takeover CQT it would cost a minimum of $250 million.

For drilling expenditure of $30 million [IF they decide to proceed beyond $5 million of drilling] Goldfields get 51% of the regional area + a call option on 24% of the regional area + a call option on 50% on Silver Springs.

CQT could be left with 25% of the regional area + 50% of the resource CQT have already established + some money at the discretion of Goldfields.

It seems that CQT are now the trailer and Goldfiields is the prime mover.