Good article. OZL seem to have this bid in a vice.
OZ's interest in Avanco is understood to be principally a function of the junior's copper potential.
CentroGold was reported in February as having two million ounces of gold, with "continued and substantial resource growth … expected".
The issue at the project is the suspending of granted environmental and construction licenses when CentroGold was previously held by a third party.
The OZL bid was announced as final (can't increase unless another bidder emerges). Pricing based on the copper assets with CentroGold a bonus if uncertainty over licenses is cleared.
Meanwhile, uncertainty over the licenses will be a key thorn in structuring alternative bids.
We need the license issue cleared promptly to clear the path for other bidders
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