nose ERO has been set up as a separate entity.YES MXR owns 35.4%...

nose ERO has been set up as a separate entity.
YES MXR owns 35.4% of the shares in ERO but these are escrowed for 2 years and there is no such thing as a free lunch because once ERO has spent $7million MXR will have to cough up one way or the other.
ERO raised $14.76million when it was floated. It was able to raise this huge amount because its tenements are seen as highly prospective for uranium and are located in SA.
YES MXR has a 30% stake in the highly promising Marree project but ERO has a 70% stake!! and MXR has yet to 'cough up'. Remember the no free lunch bit.
This could be huge given that the drainage is constrained to the West by a major basement fault and thus the possibility of rollfront mineralisation. We will all be winners here!
I stand to be corrected and this is not to be construed as professional advice.
cheers
orga