STZ 0.00% 2.0¢ strzelecki metals limited

TFP,"Sold" in relation to the JV STZ entered into with Tortuga...

  1. 1,680 Posts.
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    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.
 
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