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10.5¢ mithril resources limited

Ann: New lithium targets at Spargos Reward-MTH.AX, page-6

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201 Posts.

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02/05/16

11:54

Post #: 17651076
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Originally posted by Silvermarc ↑

That would all be great but they already sold 50% of Spargos They have until the 11th may to earn another 15%, then we would loose another 20% if they sole fund the Jorc
Leaving MTH with a whooping 15%
All for $100,000 aud.
Then they release this to us like it is meant to make me feel good??

A bit of a bad Joke if you ask me
I am glad I sold out most of my shares recently

Read for yourself below from the same report:

About the Spargos Reward Project
The Project is subject to the Spargos Reward Tenement Sale and Joint Venture Agreements with Corona Minerals Limited (“Corona”), whereby:

Corona has purchased an initial 50% equity interest in the Project tenements for A$100,000 cash,

Corona can earn a further 15% equity (for a total of 65%) by spending A$150,000 on exploration by 11 May
2016 and in addition,

Corona can elect to earn a further 20% equity (for a total of 85%) by sole funding exploration through to the
completion of a positive scoping study on a 2012 JORC Code Compliant Mineral Resource.

Expand

I just re-read original announcement re sale of Spargos. Hmmm. Oh well, the lithium might have one leg for MTH.
MTH Price at posting: 1.1¢ Sentiment: None Disclosure: Held
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