Gents,
getting real here,62strat has it in a nutshell.
This is a acknowledgement that they have generally agreed terms subject to................ + all the legal and technical guff being sorted.
The modern version of the old deal on a handshake,but we'll get a contract drawn up as soon as the legals have sorted the detail out.
It gives Otto money to progress planning and the potential subject to getting a new farminee on the same terms or similar funding the first well the chance to collect that cost from BHP.
Not bad and not overwelmingly good but a realistic business approach by both parties.
BHP are probably more concerned now about how they are viewed in China rather than the Philiipines.
China has shown where it stands giving only $US100k in disaster relief.
DYOR+DYODD Others not selling minerals there could care less.
great news, page-53
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