Thanks Salpetie. Another excellent piece of technical...

Thanks Salpetie. Another excellent piece of technical investigative reporting!

It is a few years ago now, and everybody knows everything now so I can say it without compromising anyone: the clearest confirmation I had of the Winu discovery was a chance drunken conversation with a member of the drill crew that had recently drilled the discovery hole. He described the on-site geologists' excitement, the visible native copper, the rapid arrival of senior management, and the enthusiastic comments: 'It's another Olympic Dam!'. (That me laugh at the time, as it was such a 1980s corporate cliche. But maybe they still day things like that at Rio..) So, if the rumours are out there, then people are obviously still drinking and talking!

The other thing I thought when Shines mentioned this latest rumour was: "Maybe it is a discovery near Olympic Dam?' as Rio are very actively exploring there too. But I think the implication in his video was that it was actually in the Paterson.

Having said all that, I think that you have probably nailed it. It certainly does look like Rio have found something at Winu South, doesn't it? And we know they have run every geophysical tool in the book over Winu to see what picks it up best (GAIP?), and would have then applied this along strike. And along strike to the SE (under the shallower cover, and once again on that very same Winu-Minyari-Havieron basement structure), would be a promising place to look for and find something else. It all stacks up.

I don't really think another big discovery would put Calibre on the back burner at this stage. It and Winu are too advanced now, with too much infrastructure and development in place, and any new discovery will take another two years befire they know what they have reslly got, by when mining at Winu will be just over the horizon. Although I suppose if the grade was significantly higher, some of it may be first through the mill, so you could be right.

But it would do no harm to the Paterson as a world-class mineral province, nor to Western Australia as the place to put your mining investment dollar in these difficult times.

And we would find ourselves/Antipa right at the centre of the action. Because, just as it was with the Winu discovery, there is no point in the investors buying Rio for a piece of the action. It is too big. But Antipa is the low-cap listed Australian junior that has all of the ground along strike to the southeast. They'd have to buy AZY instead.

I hope you are right about 'Winu Southeast'. It does seem likely. Apologies that I have nothing more than ideas to add.

Just time to check for McGowan's update before we head to the beach for an hour of vigorous exercise..

Regards,
Onceover