Oz Minerals having been building their tenements in the Musgrave...

Oz Minerals having been building their tenements in the Musgrave region. They now also own the EL/ELAs surrounding the Tollu project - north south and west, which they got from Traka.

Oz are looking to build scale to feed their proposed copper/nickel mine (investment decision due next year). I am not surprised by RDS' focus on proving up their resources at Tollu by drilling at various prospects. As we saw, their MRE of 3.8 Mt at 1% Cu was on the bottom end, however if they can add scale to that resource, and management have previously estimated there is 10 times that amount amongst the two-dozen prospects around Tollu, if this can be proven through their drilling, I don't think it would be farfetched that down the track, Oz may come knocking on RDS' door.

Management need to get moving on proving this up, the further they get, the more interested Oz will no doubt be.