Hi,
Buka’s intention to transfer their Lady Annie project to Avon in exchange for what would amount to a 25% equity interest in AVN will I believe be seen in retrospect as a brilliant strategic move.
Avon have indicated the coy “ … aims to build a substantial mineral resource base to sustain long term production.” In addition to the current four-way deal the coy is actively pursuing further opportunities
and believes there are attractive acquisitions available…. So they appear to be very focussed and sure have the management to realize the ambition.
Buka’s March 04 ¼ rept talked not about developing Lady Annie as a mine but participating in a business to maximise value. My curiousity as to what that really meant has now been answered!
However can’t wait to hear what Buka will do with Lady Loretta. Buka presently have a 25% interest in this project which according to their web-site contains metal with an in-situ value of about four billion dollars.
And Buka have also dipped their toe into the possible restructure of Gympie Gold.
Any comments/opinions?
BKA
buka minerals limited
