About FR JV...... It is under one of most tricky situation, imo....

About FR JV......
It is under one of most tricky situation, imo.

From my interpretation/understanding, it was 'sale($150,000 ?) and (at the same time) JV agreement' between ENT and original (or 1st) AON then. With no specific time limitation.

Then 1st AON has been carried out all field tenements surveys and exploration. They also seemed under pressure from 40% relinquishing rule. They were truly desperate, as not much options along their original projects turned no fruitful field outcomes. The rest are your imagines.

Then it (1st AON) has transformed or restructured into 2nd (or reborn) AON. Current CR1's board members are same as 2nd AON.

Then, 2nd AON transformed into current CR1.

So, 40% tenements relinquishing rule has already happened as long as mining law has changed.

Why it is tricky situation is that it was not usual pure JV Agreement betweenENT and 1st AON, but from my interpretation it was also sale of 70% interest into 1st AON. This is why poisonous Agreement with no time limitation.

Again, my anticipation of CR1's future movement could be:
(1) exploration/development of E63/1281
(2) (re)sale of 70% tenement interest to a third party partially or fully
(3) return 70% interest to ENT as SFR returned Doolgunna tenements. Imo, there might be internal technical issue.


My suggestion to holders:
(1) the word 'tricky' that I mentioned several times in the past means company sayings and actual behaviors are not coincident in many situations, so please be very careful.
(2) not sure around this time top management's view has changed or not but it thinks company SP is absolutely beyond their control. But this is totally idiot stupid ideas and as a result it always try to find excuses or put 2nd project to run away just in case.

However, SP always follow company results either field or financial results.

Regards,