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I have read the announcement a few times and that's what it says...

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631 Posts.

18/08/14

15:08

Post #: 13833612
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Originally posted by Bobsa ↑

The way I read it, Rio are effectively agreeing, should things pan out, to pay for the next $20-45M of exploration across the entire Promontorio Project which one would think would includes both the Cascada and Prom deposits. Presumably they are most interested in the Porphyry, however what benefit would there be to AZS shareholders to self-fund the Breccia drilling; undoubtably with the need to cap raise along the way?

Are we to infer that Rio are willing to pay AZS 5 times their exploration costs spend between now and the forming of the Joint Venture (ie after $20M spend) too; like an unsigned cheque?

Bob

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I have read the announcement a few times and that's what it says Bob. It's a unsigned cheque that Rio will reimburse 5 times AZS spend at the date (within 6 years) if a JV is signed (including the 5*$10 mill they have already spent). I fine it hard to believe!

Anyone shed any light?

Cheers
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RIO Price at posting: $65.22 Sentiment: None Disclosure: Not Held

AZS Price at posting: 3.7¢ Sentiment: Hold Disclosure: Held
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