Ann: Evolution signs $18M JV with Musgrave, page-15

Evolution is looking for a giant project anything less than that and they'll walk away from it possibly without completing their contracted obligations. in which case Musgrave is left in possession, of what could be a company maker for a small miner. If it does turn out to be a giant deposit Musgrave gets a quarter of it. Whichever way it goes Musgrave is a winner. The worst case is if Lake Austen is a complete dud but even then Musgrave gets to make a share issue to raise $M 1.5 presumably without paying any costs.