I've had time to read up on this area and have re-read yesterday's ann. I reckon that the company has arranged a vg deal with whoever the vendor is.
IMO, the company would have sought this tenement out because it is on the prized Narracoota Formation, amongst other things. It also is ready for drilling. A lot of the prep work has been done. This could be a beauty!
RNI already had 100ks of Narracoota Volcanics before this option agreement. This adds to that. Methinks that there are more prizes to be won in this type of geo.
I think that HOR is not involved at all with this. It is a JV with someone else, but who??
Congrats to management - a rolling stone gathers no moss!
rni horseshoe jv, page-7
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