Here's an interesting comment from the announcement: ... 5) Fund...

Here's an interesting comment from the announcement:

...
5) Fund the Company's obligations under the Rahu Joint Venture with Newcrest Mining.
...

Now, if we look at LNY (next door to Rahu, with a farm-in joint venture with Newcrest, currently drilling), their JV terms are:



Quite simply, if the same terms applied to NTL, the obligations of the parties would be:

- Newcrest pays for drilling (millions of dollars of drilling, considering the swiss cheese they are making with LNY next door).

- NTL manages the drilling because NTL had the permit for 19 years, our new director DISCOVERED RAHU, Rahu is meant to be contiguous at depth with Talisman and the grades are potentially massive. We presumably know where to drill deep to find it.

- NTL can buy 20% of the overall project by funding it.

- Otherwise, we only get net smelter royalty.

Why does NTL want money on the books for Rahu/Newcrest? Because if shareholders want to reap the rewards of this potentially freakin' wild gold field then NTL will need the cash to partake.

Disc: taking up rights big time.