V10, not sure I agree with the big partner taking out our 20% to help Minres with development. If I was buying a home for 100K and brought in a partner for 20K - do not consider it a good idea. Minres can easily afford as well as myself the costings on 20% (development/house) when you are already footing the 80% share.
Norwest was the original owner and are entitled to some respect in holding onto the 20% and footing our expenses going forward. We have a sound jv partner and we will be able to foot our bills to resource estimates and if its as good as everyone predicts then we will have no problems in obtaining the necessary finance.
No brainer to hold our 20% share through to resource stage and then into development in our continued joint venture.
Cheers greenleaf
NWE Price at posting:
6.4¢ Sentiment: Buy Disclosure: Held
