Ann: Oversubscribed Capital Raising, page-105

One thing we need to check out -
• exercise the option to acquire the remaining 30% of the project from the vendor for US$1 million;


I was under the impression it was $1m usd per tenement - are we just buying out the remaining 30% of the current project area or the full 4 tenement package?

I remember Allan complaining to me a long time ago about MOUs because "they didnt mean anything" - I am not sure if he was in part referring to the vendor perhaps not contributing to exploration costs after the maiden resource was announced - I never saw anything in any reporting regarding these contributions. Perhaps a deal has been negotiated in lieu of this and we are taking the full 100% at a $3m usd discount ?

Vendor is high on the top 40 list.... Its all money in his pocket at the end of the day no matter how you look at it.