Paydirt interview, page-12

I first got involved with this company in late 2011 when Sheffield-Parker was MD - at the time the strategy was phase 1 tailings, then move onto phase 2 stockpiles, then move to phase 3 open pit - just following the JORC resource.
Looking back, pretty sophisticated eh ? NOT !
The landscape is now radically changed - firstly we own the whole shebang (mining lease and quarry) with no royalty payment obligations but with its own "environmentally responsible" revenue stream which, in itself, will prove to be a significant "credit contribution" to our overall project OPEX.

Secondly, we have Cronimet on board, and consequently the strategy is transformed to something quite a bit more "surgically precise" and, as is evidenced from that last drill report, their strategy is also fluid. The drill indications pointed to something a little more encouraging than the underground so they are very likely to amend their focus to maximise the recovery and grade and minimise their OPEX in doing so.

And as scottm points out, the 50/50 JV only applies to tailings and stockpiles - what comes out of the underground, king vein open pit, Iron Duke etc etc etc is 100 % EQR and fully open to offtake negotiations - and with this current APT price trend and strength, its fair to say that we will be in a great position to negotiate at good price levels.