joint venture timeline

Hi Guys,

Does any one have any idea when the new joint venture company between HRL and EDC will be created or has this already happened?

"Following transfer of tenements to the project companies, HRL will receive an initial $US2.5m cash payment and a further $US1.5m subject to certain conditions."

I know the JV deal has been signed and field work has commenced by EDC, but shouldn’t we receive an update from the regarding the JV Company has been created and we have received the initial $2.5m payment?

I think the news that we have actually received the cash and are fully funded for another year on our 100% owned exploration program, while up to $200m is being spent on our JV projects will be received very well by the market.

I would think that this news should not be far off as we signed the JV agreement in early Feb. so hopefully some news mid month perhaps?

Cheers and good luck,

B7


IMO, DYOR