Ann: Rio Tinto and Charger Metals sign Farm-in Agreement, page-62

Whilst you are correct in your earlier post re CHR now only having 25% of the Project, in return they have secured up to $40 million of funding from Rio. Without this funding, CHR would have needed to raise these funds to drill via share issue. $40 million is double CHR's current market cap, so dilution caused by this progressive fund raising over time would likely have been massive (depending on drill results of course).

Overall, for me I am comfortable with giving up 75% of the Project in return for Rio's support and $40 million of exploration/project expenditure. This is because I'd rather have 25% equity in what could be a major Project (with Rio taking all the risk) rather than 100% equity where I'm taking all the risk (as a CHR shareholder).

At the end of the day, a 25% holding in a $1 billion Li deposit is worth $250 million which is 10x CHR's current market cap, so whilst our equity has been reduced to just 25%, the potential rewards are still attractive (and there's minimal risk as Rio is spending their money).

GLTA & DYOR