Money flowing to the producers only at this stage PB. It will...

Money flowing to the producers only at this stage PB. It will come for the developers too but need to be patient.

SAR, SBM, NST all would like a new project. All with big cash balances. All near or at all-time highs. It would be so easy for the cashed up gold producers to offer script/cash for EAR. Even RMS/SLR could manage it with a bit more share price appreciation. None of the top mid-tier companies aside from EVN has any debt. Dry powder everywhere.

A$ gold looks to have entered a new phase of resilience holding above A$1740. The producers have been surprisingly conservative in not going after the developers but NST in particular looks to be getting more aggressive with the takeover of WGX’s South Kalgoorlie mill and the EAR 20% stake. Their internal expansion projects at Jundee/Kalgoorlie are nearing completion so growth opportunities are more on the agenda.

None of these mid-tier Australian companies willing to go to Africa. Seems they're happier to leave it to the Canadians.