Gold, silver, zinc, copper, lead !, page-21

Sorry timbin4 but "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".......................but with the ASX and JORC to deal with, that would never be allowed to happen. Professionally that would destroy any boards credibility (and could (?) be against the law)

Back of envelop maths. Say PNX spend at the end of their PFS, $4m and work up a project that has an in-ground resource with a value of say $250 (this looks worse the higher the in-ground resource becomes). Kirkland then pay $12m for 30% of a de-risked project. The problem is the unknown. What direction will further project funding come from?