I see NST has taken the reins of SKO as of Sunday 1st April. HBJ minerals(with whom the Cannon deal is signed) is now a fully owned subsidiary of NST. There is no doubt that both management and their company geologists have done their full due diligence on the SKO operations before any purchase agreement was announced to the market. I'm sure that the sale of SKO was already in the wings before the Cannon deal was signed. According to WGX 2017 Annual update of mineral resources and Ore reserves (released 4 sept2017) Georges Reward had only 2909oz indicated and inferred. NST have a production target of 300k Oz from its Kalgoorlie operations this year.
From NST announcement
"Northern Star has also initiated a full review of the existing resource and extensive exploration upside at South Kalgoorlie"
We can only hope that Georges Reward will attract some exploration expenditure. I'm not sure how this will play out for us...... we are a real minnow now, with a very big fish in our pond. Could go either way
Good luck to all of us
SAU Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
(20min delay)