RE:venus deal: from 6 to 3% reduced but carried till production Looks my thesis was spot on in May (and before):
"To me, the main point is...when was the last time a small explorer got 1b+ on some holes in the ground ? Long, long ago.
Imho...the intention of the Impact mm is clear...get the exploration costs back, get some small Wi (or royalty) with a carry to production and that's it...saves the overhead for decades and they can go on. Beside the mm wish, it's the most probable outcome for me too."
The only good thing is, that Aoi won't throw any more money in the Impact pit, for now. The Aoi now 3% Wi is pretty much worthless kn the next 10-20 years.
Of course Impact won't pay back Aois share of reimbursement (33m)...better to spend in on the overhead kn the years to come and some greenfield stuff for 2050.