RE:MuniMuniHi Iskyhigh,
Your simple maps are the most useful to me. Your latest are really great. Many thanks.
Africadale’s post over in HC fills in the picture, IMO, in the 5 paragraphs below
“From the basic diagram provided in the news release it appears ARV have added >5x more prospective strike to their existing Purdies Reward tenement. Purdies from memory contains 7km of strike. So from the map below we now have added >35km of prospective contact to our existing share at Purdies. It seems some of this turf is a known source of gold and prospecting area.”
“ARV will ultimately pay around $22 million for this acquisition with some of the ground being 100% ownership and others in a 70% JV.”
“Now if we go back to the Purdies deal with NVO. ARV gave up 50% of Purdies and in return gained an excellent partner with experience and reputable management and insto following. They received $2 million in upfront exploration from NVO and 4 million NVO shares.”
“Now correct me if I am wrong - but ARV in effect just swapped <3 million NVO shares to gain at a minimum a 70% stake in a further +35km of on strike potentially gold bearing conglomerate - roughly calculated this equates to them giving up 3.5km of Purdies to gain a full stake of >12km of on strike conglomerate in the best known area to date. Comet Well (the tenement to the SW of Purdies) is the Novo jewel in the crown. Now continue SW and see what ARV just picked up...”
“Some may say Purdies is a bird in the hand (assuming they believe all of the news to date). But these new tenements are prime ground continuing on from Purdies and Comet Well and ARV has greatly increased their stake of the prime ground in the region at the expense of NVO. Not a bad swap if it bears fruit.”
reeJoey posted early this morning: “Not a big deal? Check out what John Kaiser emailed to his subscribers this morning.” So, I assume what JK is saying is positive, but I have yet to see his comment posted anywhere. It is a ‘warm fuzzy tick’ or does JK provide hard detail?
A final general comment, by myself. Artemis’ NR mentions land around Radio Hill and I’m wondering whether this gives Artemis the opportunity to reorganize around its processing plant. Millsking, Rhino and other locals see value in that mill, and Dockmz2’s latest post (My 2 cents…) about the need for huge bulk sampling suggests an initial role for the mill.
Docmz2’s wish that proponents of both ARV and NOVO stop making snide remarks is well taken.