Ann: Commencement of fully contributing JV for El Zorro Project, page-44

Corgi makes a good point in the other thread, in that this could be pointing in the T/O direction, why put yourself on the hook for all this extra cash and risk if you're not willing to pay up, if this goes to mine they would have to put up a lot more down to prevent their share being diluted to nothing, this way they get a larger portion for less cost than funding their share of a mine, and all they have to do is hang on until a T/O event, not a bad outcome though, as I'd rather they push forward faster to make themselves as attractive as possible for a T/O bid, we should see them drilling the other targets soon in that case and trying to expand as much as possible. I mentioned earlier that I thought a T/O would be likely so Zeff can actually make use of all his shares while he's still young.