See presentation today, and previous drilling results and interpretations around the Vulcan target.
Multiple junior companies over a decade or more have identified the Vulcan target as the primary target on the lease to drill but were not able due to local clearness issues which have now been resolved. In the preceding years TAS drilled secondary targets around vulcan waiting for heritage clearance which never eventuated until they joint ventured with RIO. Probably related imo but does not matter now.
RIO are paying for the Vulcan drilling to earn 50% or more in stages over a few years depending on success. They would only be interested in exploration targets which have potential to develop into a major sized mines that would impact their copper production profile.
So RIO is after something of Olympic proportions with TAS along for the ride.....Not the best market for it but imo perhaps the highest risk reward play on the asx.
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swing for the hills for tas....finally
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