First blush Razor,that's the way I read it. I think they've set...

First blush Razor,that's the way I read it.
I think they've set it up so a third party ,without SHr approval can take a cornerstone investment in Ionic,which I was kinda thinkin would happen,like that Patent company I posted about a week a go,they've got a $50 million fund for energy development.

interestingly, their saying their core activity is mineral exploration,neither Myall Creek or Cultana are 100 percent SER,what of their single purpose entity?
I guess you can have a single purpose entity in a Joint Venture,but somehow it doesn't sound right to me.

Raider