iron ore project update, page-4

It is on their website under the Shoemaker Project, 3rd paragraph.

GMM is acquiring a 50% interest in the project from Galaxy Resources Ltd. GMM can earn a further 30% through expenditure of $1,000,000 within 2 years. The Agreement is conditional upon GMM completing a capital raising of at least $3,000,000 or a successful listing on the Australian Securities Exchange