RESERVOIR MINERALS INC V.RMC

Rio Tinto Is Locking Up the District

[psj567]

With its JV deals with RMC and now Avala, Rio obviously is looking at this as a district that it wants to own outright. The last and most important piece of the District left is Cukaru Peki. That will be next.

[cd673]

Brilliant they have the option but not obligation, have given themselves 2 years for initial exploration, and are spending only their costs till then. And they get to see all the data. Good indication they are interested and dozens of possible outcomes. Let's see how it plays out. For RMC patience and wisely using their leverage is key. LZ sizing would help... need more holes. UZ deposit

[yixter]

If u are talking about AVZ they are starting their drill plan in early 2016 it said so in the release. I take that as early Jan or Feb. So Rio is obviously pretty gung ho to see what's on the AVZ land!!

[cd673]

Appears they have a 1 mill min exploration commitment in 2016 to AVZ which is different than the RMC deal, and they have 60 days to do DD on the RMC option, but it does not look like the same for the AVZ deal.  Unclear why the difference since the deals appear very similar otherwise., other than RMC has more land in play.  However, the key point to me is finding something is not a given,

[yixter]

The one million didn't have to be spent until the end of 2016 however they are electing to drill almost right away. I will bet they spend more than a million that's just language within the agreement they can spend more if they choose too.There is mineralization all over this area, so RIO must feel pretty strongly AVZ could have something, whether they have what RMC has remains to be seen

[yixter]

Just to add to my last post AVZ starts out as operator and will be paid for that too during the up and coming drill program. Sorry to take up this board but some were here since the beginning for RMC I cant see many wanting to pass up a possible repeat.