From IRC website, if $1m has not been
spent by 9 Sept 2018 (about 2 months ago) we keep another 25%
Committed does not count, it is the $1m spent, also with the "delays" is the project in "good standing", unsure who decides that.
I note that in the quarterly report, which should have stated that AXF had spent the $1m required, there was no mention, so guessing they had not, anyone else see why we should not have 50% ?
As announced to the ASX on 9 September 2017, Intermin has completed a formal Joint Venture agreement with AXF over the Richmond project. AXF brings considerable technical expertise to the project and has extensive business relationships throughout Southeast Asia.
Details of the agreement between the parties include:
- An earn-in Joint Venture whereby AXF can earn 25% of the project area by spending A$1m within a one year period and maintaining the project in good standing
