Ann: TMZ:TMZ & WRM Sign Term Sheet to Progress Mt Carrington Proj, page-12

If it goes to stage 3 won’t WRM have to pay for 30% of the $39m infrastructure costs which happens to be about $12.5m?

It is very similar if not exactly the same as the Koala deal and I agree with Angus100 - it seems they are giving up 70% of Mt Carrington to cheaply given the fantastic economics of the project.

I can understand why they are taking this option. Management believe that the Alaskan projects have greater potential and would rather spend their remains cash on those projects.