"Under this Agreement, IGO has an exclusive right to earn a 51% interest in the Copper Wolf tenements by sole funding expenditure totalling $350,000 within 2 years (Stage 1 earn-in).
Upon IGO incurring the $350,000 earn-in expenditure, it may elect to earn-in and form an unincorporated joint venture with the interests being IGO 51% and Buxton 49%.
IGO may elect to earn-in to a further 19% by sole funding $5,000,000 within a further 3 year period (Stage 2 earn-in)."
Hi @setfire2thehive - the bottom line after the Stage 2 earn in is BUX still holds 30% of your 26 billion in ground value (Cu and Mo) - lots of dilution if BUX decides to put up the finance to mining, but with IGO as partner that should be possible. T/O option also in play.
------------------------------- On the graphite front here is a technical article on the manufacture of spherical graphite (SPG) - and its introduction into the supply chain.
The article is dated as far as costs and value is concerned, and also as for environmental controls now being applied in China. Also I have read that China's graphite resources are dwindling. Although not fully understood, it seems to me China's hold over SPG production may be challenged - first step is to acquire and hold graphite deposits.
Clearly the purity of the graphite raw material is fundamental to the economic manufacture of heat treated coated SPG - large flake graphite is large flake because it contains little disrupting impurities. Large deposits of it will be at a valuable premium in the future as SPG anode batteries dominate the EV market.
On account of both projects mentioned above, BUX is ideally placed to create enormous wealth for the long term holder - IMO.
BUX Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
