Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-48

The way its worded "in conjunction with the [scoping] study, consideration is being given to potential 50/50 profit sharing arrangements with the incoming party to solely finance all aspects of any operation", I don't think OZM has been in any JV discussions with third parties (although it is possible). What the Quarterly Report says is that OZM has advanced the Scoping Study on the Mulgabbie Project and alongside this, they have given thought about how to finance it. One financing option they have considered is a JV where the third party (incoming party) sole funds the capex and opex, but any profits are shared equally.