Agree, heres the previous summary of terms with Bradda:
Zenith carried for US$5 million (A$6.6 million) expenditure over 3 years by Bradda Head
to earn 55% project interest, one off right for Zenith to contribute at 45%, or be free
carried at 30% to the end of pre-feasibility studies on two projects;
• Bradda Head minimum spend US$500,000 and drill at least one project before
withdrawal
• Bradda Head to list on the London AIM
exchange – planning for early 2018
• Potential for future spin out of Zenith’s lithium
portfolio on ASX, once projects are more
advanced.
I think the 3 years was up end of this month. IMO the current deal is a shadow of the former and Jim Mellon (one of ZNC largest shareholders) has screwed ZNC in favor of his baby Bradda Head.
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