They issued 3.45 million shares, voluntarily escrowed for 9 months, as full and final payment for the tenement. Evidently the competition was quite fierce but evidently the pre-existing relationship between the company and the vendors secured the deal.
In the context of prices for other more or less prospective iron ore projects, I don't view a $690,000 ongoing stake in the tenement for the vendors as expensive.
These results are very encouraging for a first pass of 27 samples of outcrop. I have no doubt that similar grades to TRH will be achieved in a systematic assessment of the strike length, after all it is a continuation of the same mineralisation. Look forward to next year's results.
Good luck
AVZ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
