gifter2
I think you'll find Frank Hill was put in the bunch of tenements that are in the JV with PAN.
I get the impression the prime land has been kept 100% in THX hands...eg Rosewood.
With PAN running these JV tenements, they are basically responsible for them, as I understand the holder is obliged to be doing something with tenements they hold, otherwise they will loose them.
THX has got more important areas they want to explore, so I don't think it was a bad idea doing what they did.
PAN is obliged under the terms with THX to spend [I think] around $3m over 2 or 3 years.
If they find something of note and mine it, THX obviously gains from that.
There are a few other areas which I think THX would also be prepared to do JV's, as they are awkward, not easily accessible pieces of land, in WA.
Regards
Dabru
gifter2I think you'll find Frank Hill was put in the bunch of...
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