TFP, "Sold" in relation to the JV STZ entered into with Tortuga may sound a little nagative to those new to STZ. I thought I may copy/paste more detail for NoPunditHere: "Under the agreement Tortuga may earn up to 80% interest in the tenements by spending $4 million on exploration over the tenements within five years. Tortuga will earn its interest with three expenditure tranches of $0.75, $1.5 and $1.75 million corresponding to an earned interest of 15%, 51% and 80%. If STZ's interest reduces to 20% then STZ may elect to convert its share to a 14% free carried interest through to the development and mining of a deposit within the tenements." The reason why these tenements are of so much interest to us, STZ holders, is the fact that BDR has drilled a few holes that hit nice widths of gold, potentially implying the discovery of a new gold province.
STZ Price at posting:
4.2¢ Sentiment: LT Buy Disclosure: Held
