My understanding of the Sumitomo deal is that there was no...

My understanding of the Sumitomo deal is that there was no change to the commitments to PIO. The expenditure has to be complete by 18/9/20. As I understand it, on that date Novo and Sumitomo have to withdraw and hand the leases back to PIO or form a JV and carry all expenditure till a "decision to mine". There are a number of interesting aspects to this project. Sumitomo will have the largest share in the PIO leases. As far as I know, this is the only project at Egina in which Sumitomo has the largest share. The man who pays the piper (Sumitomo) calls the tune, and Sumitomo has an incentive to favour Kangan leases for first mover status because if it holds the largest stake in this project. Of course, the first consideration is which will give the greatest return. In any case, Novo has to get a move on in exploration of Kangan to have a fair idea of its value before mid September.
Quinton Hennigh is presenting at a virtual conference on 6th May at 2:30. That is in Canada, so 7th here - that is Thursday. The details should be available then. It should give us some valuable information. Hennigh has already indicated that Egina is his prime project although he has recently taken control of a couple of conglomerate properties from ARV so must have an interest there also. The next few days and months look pretty interesting. Perhaps the new management may also get their fingers out and drill a hole or two at Leo's Dam.. Surely that can't be too hard.