mox actually is in partnership with meu regarding the melton project so once meu has spent its $400,000 in the next few months completing those detailed maps of the five targets it will own 50% . After this mox/meu will share the costs equally.
mox is well capitalised to pay for its share of the drilling costs with up to $3.5m in cash and has around $6.0m in meu shares at the current meu share price. So success at melton will give mox a greater boost due to the fact it owns 20% of meu.
MEU Price at posting:
16.5¢ Sentiment: None Disclosure: Not Held
