There was a minor typo in my first reply that I feel I should correct. I left out the word "project".
"...a joint venture company (Puna Mining SA) with Mr Pablo Alurralde and Mr Francisco Mendendez to own the Salar del Rincon
Project..." ) ie the JV doesn't own the whole Salar, just the project that AGY have been developing and growing now for approximately 2 years.
Um... with respect these additional questions.... I generally try to be helpful with sharing my research and including links to source documents, but I also like to see posters demonstrate a little effort and do some basic research
.
For example, reading AGY's latest ANN on tenement purchases will answer your first question:
".... complete the 100% acquisition of those tenements – namely the Salonix properties, Mina Reina and Mina Tincal, and bring them into Puna Mining S.A. (Argosy current 77.5% interest), to complement the existing mining titles and mining easement rights, warehouse, plant and equipment that is all currently owned 100% by Puna Mining."
Question 2:
It's something I haven't felt necessary to research, but it's a fair assumption that 77.5% ownership extrapolates to assets and profits. I expect that the best person to confirm the exact conditions of the JV for you is to email JZ himself (though such finer details may be something they won't reveal).
Question 3:
Did you read the ANN of 01-07-2016 I attached to my first response? The key terms were included in there - though these may have been updated/replaced as the project has developed.
"The key terms of the Heads of Agreement and Farm-in Agreement are:
- The Company and the Vendors will each appoint two nominees to the board of directors of the JV Entity and appoint an operating committee to oversee the management of the Project, approve plans and programmes and allocate the funding contributed by the Company. Mr Pablo Alurralde will be in charge of day-to- day operations of the JV Entity.
- The Company will ..... "
Hope that puts you on the right track for you to do further research yourself.
Any further questions.... just let me know where I can send my bill
!
