GALILEO, Clarification (not for you, who have it right, but for punters who may not be clear):
GFA has the right to buy an addtional 24% of the REGIONAL TENEMENTS (NPV unknown), taking their interest in the Regional JV tenements to 75%
GFA has the right to buy ONLY 50% of the Silver Hill Excluded Area (NPV estimated at $300 million) based on the NPV to be estimated by an independent expert.
FOR GFA TO HAVE EITHER OF THESE RIGHTS, THEY MUST FIRST COMPLETE 150,000 METRES OF DRILLING WITHIN 3 YEARS OF THE JV EFFECTIVE DATE (NOT the date of JV SIGNING).
CQT Price at posting:
50.0¢ Sentiment: None Disclosure: Held
