News: S32 Ausquest And South32 Extend Strategic Alliance, page-4

Ausquest is basically the eyes and ears of South 32 in the projects. They have the faith in Graeme and the team in locating something worthwhile. The world is hungry for new deposits and S32 have taken the notion of basically subcontracting it out. One less hassle for them. Of note is the time it takes and the $$ to find these Tier 1 deposits .
Some of AQD projects have been ongoing for years, and each step is 1 step closer to the tier 1 which s32 is interested in. The deal is they can end up owning80% of the project if they speng around $5mill on it from memory.
So its a good deal for s32 and for AQD .
I think AQD share price would benefit a lot more than S32 on a Tier 1 find. Look at Barry Fitzgeralds reports in the media section on AQD website , he explains it a lot better but I am glad that they have renewed for a further 2 years. Maybe take a dabble in AQD shares as well for potential great upside on a find.