The term 'Material Transaction' is probably relevant: Defined in...

The term 'Material Transaction' is probably relevant:


Defined in law (in the USA) at least:-

"Material transaction" means a transaction, other than a claim payment or a premium payment, that (i) affects surplus or involves an exchange of assets or liabilities of the reciprocal, requires performance by or creates an obligation for the reciprocal, or results in transfer of the risks or rewards of ownership to or by the reciprocal and (ii) exceeds any minimum limits set forth in subsection A of this section. Any series of transactions affecting, involving, or impacting the reciprocal as described in clause (i) and occurring within a 12-month period that are sufficiently similar in nature as to be reasonably construed as a single transaction and that in the aggregate exceed any minimum limits set forth in subsection A of this section shall be deemed a material transaction.


So I guess someone is going to buy the tenement…..or part of it…….maybe as a result of some really good finds, or not and SEG have given up trying to find it, and the directors are jumping ship….

Either way it is very curiously - and cautiously worded, especially when the term jv is used.

Ports conclusion, a jv with SIR, who can manage the risk better, and have the deeper pockets to explore.
If the last drilling came to nowt, then another CR is not possible - begging bowl will not get filled again. I do believe that all of the Plumridge players know there is something there, and SEG are sitting on it; but i am concerned that the vultures will pick the eyes out of it.