Ann: St George Boosts Technical Team, page-32

When I last spoke to John about this (and this is referring to the time that the Farm In with BHP was in place for East Laverton) he said that the corporate decision was made by BHP to cut all exploration funding other than for Leinster. This was the start of the huge benefit for SGQ holders as the company was handed back 100% ownership of East Laverton (and all the exploration data that had been collected).

It was only late 2015 when Mt Alexander and Hawaii came on the scene and by SGQ's good fortune WSA, who had first right of refusal, had other things on their plate at the time (and were going to take up the other 75% of Mt Alexander but ran out of time) allowing St George to take it up with the conditions that eventually were put in place with Nickel West (and WSA being issued 3,500,000 SGQ shares)

Extract from the SGQ announcement on 29th January 2016
TRANSACTION TERMS
The consideration payable to Nickel West by St George for the acquisition of the 75% interest in the Mt
Alexander Project is $300,000.
Other key commercial terms of the acquisition are:
1) Nickel West has off‐take rights to St George’s share of any nickel produced from the Project;
2) Nickel West may charge a base royalty of 1% of the proceeds from St George’s share of any mineral
production at the Project; and
3) Nickel West may charge an additional royalty of 1% of the proceeds from St George’s share of any
nickel produced from the Project provided that the additional royalty is only payable if a minimum
measured and indicated JORC resource of at least 25,000 tonnes of contained nickel is defined at
the Project and payments of the additional royalty start 12 months after commercial production
from the Project.

Cheers
IO