Ann: Rio Tinto and Charger Metals sign Farm-in Agreement, page-39

By the time we reach the RIO $10 million kickin it would signify there is a sizeable proven lithium deposit, and that would be reflected in a decent CHR share price way above what we are at today. At that point of time we would still hold 49% and RIO 51%. Doubt RIO would go the next level where they need to kickin the next $30 million to achieve the 75% equity position. By then it would make more sense to have done a takeover for CHR and get 100% ownership. In fact if they do even reach the $10 million kickin point I reckon a takeover would be on the cards leading up to it. Whichever way you cut it, today was good news unless you wanted to CHR to retain 100 % ownership and its current management team