it’s what’s in the ground at the 100% owned area that is the key, AZY are keeping incredibly quite about what is there, a friend of a mate of mine put me onto these three years or so ago “ mate, Travis said put the house on them, they are going to be massive, got more gold in the ground than they are reporting and are keeping it to themselves with no JV in mind” Travis apparently was doing sub contract work with them at the time.
might add this was third hand so no idea on the accuracy of it.
Rio generally only looks at tier one deposits but NCR desperately needs new ground as their mines are running low now, they would be my guess for a takeover at some stage hence the 10% stake...imo.
Paterson overview, page-19
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