Yes is confusing ..I should have asked JP in the last email I sent him ...
want gets me is the term 25% of the area ? not 25% interest of the whole project (was this an out if AXF decided they didn't want to proceed they still would get 25% of the land?)
- An earn in Joint Venture (“JV” whereby AXF can earn 25% of the project area by spending A$1m within a 1 year period and maintaining the project in good standing
Not that it really matters as AXF are committed to funding the next 5mill -and as it states in the original ann. >
The joint venture covers the 100% owned Richmond project in North-Western Queensland and metal rights owned by Intermin on nearby properties
Be very interested to see how much 6mill worth of funding will take the V project ...how good will the feasibly study be? will it be defined or just scoping or somewhere in between
IRC Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
whereby AXF can earn 25% of the project area by spending A$1m within a 1 year period and maintaining the project in good standing
