Ann: Option to Acquire Pippingarra Lithium Project, Pilbara WA, page-117

several posters here are saying the deals to cheap so it must be rubbish. I disagree I think its a good deal for Northwest quarries (NWQ) too-.

NWQ is a family run co that quarries mainly gravel and construction materials and does nicely. The main thing is they are not greedy and don't want to deal with dickheads>
they know IND and know Jeff Sweet the MD (whose own family have been in the same business)- not the Mark Creasy side- and they know IND are good guys so they did a deal with them despite others making offers.

IND pay them 50k cash/ and 100K in paper. They also take over running the JV mine. - From that NWQ still gets all they ever got before - and now have to do less work as they are getting on and probably want more time fishing etc. The mine is run by younger good people they know.

but the real good stuff for NWQ is IND take on all the cost and work of the exploration and development of the HPQ and the lithium side and they get a free carried interest in that too.

They know IND have contacts in China to develop the HPQ business
- and they know several of IND's team have successfully developed lithium mines before for example PMET in Canada last year 20 cents to $18

So NWQ- can go fishing more as they get older - work with a good younger management team they know- who have more access to cash to develop the lithium - and still get 100% of their old business and a free carried 20% in the new. Plus 100,000 k of shares which will look sweet if they 10 bag from here -as they well could if the lithium pans out.

so to me that's a gooddeal for both sides.