Is a big brother on the cards?

摘要

Up and coming float Red River Resources Ltd has already attracted the attention of one resources major with talk of possible "equity participation" in its Wongan Hills project in Western Australia. Company managing director John Karajas said it was possible Red River could emerge with a "big brother". While he would not divulge who the major was, it is probably worth noting that Wongan Hills is considered to have potential for a Boddington-type Archaean porphyry copper-gold deposit. Of the three owners of Boddington (AngloGold Ashanti Ltd, Newmont Mining Corporation and Newcrest Mining Ltd), it is AngloGold Ashanti that boasts the best track record of doing deals with juniors. In fact, at the recent Australian Gold Forum, AngloGold Ashanti's chief executive Bobby Godsell noted "companies which managed exploration activity with intellectual excellence and cutting edge technology would be the most successful in finding ore bodies and forging relationships with juniors".