Ann: New Canadian Lithium Option & Royalty Portfolio Termination, page-58

I dont know if they are currently holding, but they are 50% ownership of Austrek who is the company vending these leases to BMO.

The payment of $1,000,000 is at the option of BMO to exercise, and is given in script so GTT will end up with another $500k worth providing the deal is good enough to go through.

The other 50% is owned by 2 of the management from HHR... make that of it what you will.

BMO will have to prove up something within the next 6 months and then exercise if they are worth while so I expect they will hit the ground running. This may take time now but OM1 put out their announcement last week only 1 week after the notice they had acquired the property.

Perry English, who has a couple of the direct leases seems to have a decent track record of picking them and understands the area.

All in all, this isnt a bad deal for the company.. They way it has come about is why the company has been punished now. Irony is his may have fired up on the back of this announcement given some of the recent speccies if it was just released without the back history.