Ann: CXO: Strategic Inv.in Charger Metals and the Bynoe Project, page-21

No.

CXO didn't spend any cash, but issued CXO shares of approx. $500K valuation to LIT for 10% of the entire CHR share register - all projects.

They then have the right (assuming CHR do not take their pre-emptive right) to take 30% of Bynoe for a further cash consideration of $500K.

Thereby valuing Bynoe project itself, at around $1.5M.

I guess CHR will be looking hard for Niobium to keep the SP elevated. If they have success and rocket, that's cool too as CXO will make money having paid around 7 cents per CHR share (based on CXO current SP) for their 10% holding.