S32 didn't announce as the agreement is tiny in size:
Commercial Terms Overview. Pursuant to the Agreement, South32 can earn 100% interest in the Project by (all dollar amounts in USD): (a) making option and cash payments that total approximately $210,600, (b) making a one-time option exercise payment of $500,000, and (c) completing $5,000,000 of exploration work on the Project within five years of the execution date. Upon exercise of the option, EMX will retain a 3% NSR royalty, 0.75% of which may be purchased by South32 for $1,900,000 within five years of executing the Agreement.
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For a miner with $US1,900,000,000.00 in cash, >$6m is not material. Were S32 to announce, others would jeer at it for over-announcing. It can't win.
Interesting that S32 is attracted by IOCG. Lots of other metal goodies in this historic mining area.
Ash
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