In the last quarterly, CVG stated that they are reviewing the...

In the last quarterly, CVG stated that they are reviewing the divestment of the non-gold assets, ie. Diamantina Phosphate (630 sq kilometres of tenements).

CVG’s tenements are south of the Phosphate Hill Mine - the largest Phosphate producing mine in Australia, owned by Incitec-Pivot, and north of the Korella Phosphate Deposit owned by Krucible Metals, which contains 19 million tonnes, grading 19% P205.

Today we get some indication of the potential value of these assets, which are located between the Korella Phosphate tenements owned by Krucible ASX:KRB, and the Phosphate Processing project of Incitec-Pivot.

Both the geological and radiometric trends from Phosphate Hill, and Korella, overlap with CVG's tenements.

Today's announcement by Krucible confirms that Daton Group Australia (ASX:DTG) are acquiring Krucible's Korella Phosphate tenements for $12 million dollars. Daton is building it's new fertilizer manufacturing plant in Brisbane.

I wonder if CVG have also been in discussions with Daton Group, hence the paragraph in the last quarterly that mentions the potential divestment of CVG's Phosphate tenements. It would seem to make reasonable sense now, for either Incitec-Pivot or Daton to acquire the CVG Phosphate tenements.

Gw

The meek shall inherit the earth, but not the mineral rights.
(J. Paul Getty)