Ann: Large Scale Graphite Potential at Sevastopol Prospect, page-8

hi pear

not sure why you keep mentioning 10%
if you read the announcement on 15/4/10, Pan Pacific can earn a 51% interest in certain tenements including Mt Margaret if they spend $15 million in 6 years, I don't think this has occurred yet.

if they spend a further $40 million they can take their interest up to 90% but GBZ would retain 10% free carried interest up to the completion of a BFS, a lot of water and money to pass under the bridge till this occurs.
I am not sure if graphite is included in this deal either or if it relates to copper gold targets, this would need to be clarified with management but good luck with that, getting news out of GBZ management is all but impossible.
quarterly is due this week, perhaps we will FINALLY get some news regarding our gold prospect, news on this prospect has gone suspiciously quiet! is this going to go the way of MILO, into the annuls of GBZ projects that were started but petered out to nothing.