Ann: Trading Halt, page-45

Sounds like it.

08/13/2015 | 12:35pm US/Eastern

Deal Type: Partnership
Deal Sub Type: Joint Venture
Deal Country: Australia
Deal Status: Announced
Deal Value: 0.0000 USD
Deal in Brief
Segue Resources Limited, a mineral exploration company exploring for nickel and gold resources, has signed a binding term sheet to enter into a joint venture agreement with Port Exploration Pty Ltd, a mineral exploration company, over the Segue Resources'Pardoo Project in thePilbara Region of Western Australia. Both companies involved in the transaction are based in Australia. Under the terms of the agreement, Port Exploration has an option to acquire an initial 51% in the project by spending AUD0.25 million (USD million) on exploration within 12 months of signing the Agreement. In addition, it has an option to acquire an additional 29% interest in Pardoo by spending a further AUD0.25 million (USD milllion) on exploration by no later than 12 months after earning the Stage 1 Interest. Upon Port Exploration earning the Stage 2 Interest,Segue Resources has the right for a period of 18 months to sell its 20% interest to Port Exploration for shares in Port. Segue Resources has received a non-refundable fee of AUD0.05 million (USD million). The joint venture is subject to shareholder, ASX and other regulatory approvals