Ann: 81 mio Deal for Hawsons Iron Project , page-3

" Bonython Metals Group Pty Ltd (BMG) to farm-in to Carpentarias 100% owned tenements at the Hawsons Iron Project, Broken Hill, New South Wales
This $81M deal represents a staged injection of cash to Carpentaria of $53M plus $28M for exploration costs
Australian and Asian investor-backed BMG to make an initial $5m cash payment and a further $8.0m to fund exploration and resource definition staged over 3 months with future staged cash and other payments of up to $68 million to Carpentaria
Carpentaria to retain a 20% free carried interest to the targeted production of 20 million tonnes per annum (tpa) iron ore concentrate
Total Carpentaria exploration budget on this and other Carpentaria projects boosted to around $10 million for 2010, largely on drilling
This transaction has the potential to transform Carpentaria into an iron ore mining company in the medium term, that has additional exposure to tin, gold, nickel and coal projects across eastern Australia"