proposed uranium exploration jv, page-3

Hard to work out what they are trying to say. CMY's only Uranium lease is Mundaerno and they already have a JV with AMWD. So it looks CMY are being paid 1 mil to find Uranium leases and we the pre-CMI shareholders get 20% carry. Don't know if that is good or not. Will be good to see more detail....like when it's considered completed. Not sure what they are doing in the last paragraph.

btw...I went to the EGM the other day and met Meng Tian the new Director. CMI are definitely keen to develop the relationship. Also had a chat to the Chairman - who looks like a good geologist - but not sure if he makes an effective chairman. Rest of the Board looks good.