Sprott, page-59

Nice info here today - thanks all.

Re the purchase of Bellary Dome by Pacton from MZN, I say that south Pilbera is very interesting to the Canadians - Bellery has MRB and nonconformal conglomerate and WMS nuggets, but like the rest of the basin the problem is how to get a JORC resource out of that.
If the Canadians can prove economic resources in the north west (PE + CW) - east (BC) and south (BD) and elsewhere, and they have a dominant holding across the basin they are in a fantastic medium term position.
They would have no trouble with capex for several giant con gold plants. That, I think is their objective.

There is little doubt in my mind that the Canadians will win this game, but also that DEG and ARV (in particular) will be much harder pushovers than MZN - and that will mean, if they hold out, they will be big winners too.
The losers will be the small caps and P/Ls who think this is all too difficult and would rather have cash and hold their place in the cafe society in Perth.

I posted first thing this morning on MZN that they should demand cash and not Pacton shares. I hold doubts that PAC is just an acquisition vehicle.

There is a huge Dark Horse playing here - that is the big irons, whose tenements may also hold Pilbera con gold at depth. Garry from Haoma indicated that the WMS nugget bearing conglomerates at his Marble Bar property went under AGO's tenements at modest depth. It would be interesting to be a fly on the wall when the Canadians (KLA, Novo, PAC) got together to discuss the current AGO T/O - we mustn't show our hand yet, might have been mentioned.