Thanks for posting this. When you say 'controlling' stake........

Thanks for posting this.
When you say 'controlling' stake..... if PNX have 70% how is the 30% clawback a 'controlling' stake?

I must say I didn't read any of this 30% clawback in the Annual report last year, all I saw was they have 100% of the tenements for Mt Bonnie and Iron Blow. I clearly didn't dig deep enough with my research

And yes that isn't a great deal for the company, put all the work in but only get 70% of the gains, plus give away a 2% royalty on the precious metals.

So by the end of the year (if the PFS is produced on time) Kirkland will have had to play their hand..... there is a incentive in that deal for PNX to underplay the PFS results on the hope that it doesn't entice Kirkland to pay their times 3 for the clawback.

As long as they have enough funds to pay for the PFS once that is produced it's then a matter of sitting around preserving cash for 6 months until Kirkland make a decision..... not good negotiating on that point by the PNX team, surely 3 months would have been long enough time to make a call?!?