LRS General Discussion, page-17329

Remember in 2022 and early 2023 when everyone (myself included) thought this east tenement was absolutely necessary for Colina to be successfulLooks like I was 100% wrong on that one. Goes to show the competence of our local Geo team (they clearly had the option of buying and decided against it).

From memory, Ionic paid ~$20m for this tenement (&3-4 others in the area). I'm not sure what their strategy is given Ionic's main priority is Bandeira which is a lot further south down near Sigma (i.e. why are they sinking funds into an 8MT JORC with mediocre grade)?

I can't see how 8MT @ <1% could possibly be economic.

Which leaves the question - will Ionic see the writing on the wall and agree to sell it to us for a 'cheap' amount? There's only one company who could make economic use of the tenement IMO which is us. The tenement is very wide, but we would probably only make use of the very Western side of it (by expanding the Colina open pit).