Sorry, not too sure what happened last post.
D, just to clarify...
BHP can TAKE BACK 80% if they agree to pay for the pre-feasibility study as well as a mining feasibiity.
But AIM still have some obligations too including:
- Stage 2 - Drill 5,000 m and spend min of $750K
- Stage 3 - Drill 10,000 m detailed program and spend min of $1.5mil
Also worth noting only once Stage 3 is complete, and only at this time BHP have the option to claw it back by 80%. If they choose not to, they lose their claw back rights and simply retain 2% in royalties.
Cheers
Wilf
mumbwa jv but bhp can claw back, page-6
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