joint venture with aurium r, page-13

woooohooo,the second pce of great news in as many days.
Aurium,dont know much yet abiut this co,will have to do some research.
will be very interesting to see what else(other assets) they intend to list with.

of MAJOR INTEREST GUYS.......

"""""""• Aurium has applied for a change of status to a public company and is preparing a Prospectus with a view to listing on the ASX as a gold and uranium exploration company."""""""'

the U if in the NT,will be of major significance.........and then theres the Priority Entitlement TO GPN SHAREHOLDERS.

my estimation of what these guys are doing i=has massively increased..


i am going to have a drink on St Paddy's day for the real delivery of yet more great news.

the big Q is whats next..............woooohoooo


GREATER PACIFIC GOLD LIMITED
ABN 12 009 076 242
15 March 2007
Companies Announcement Office
Australian Stock Exchange Limited
20 Bridge Street
SYDNEY NSW 2000
Joint Venture Agreement with Aurium Resources Pty Ltd
Greater Pacific Gold Ltd (GPN) is pleased to announce it has entered into a Joint Venture Agreement, subject to shareholder approval, on a number of its Peak Hill gold tenements (the “Peak Hill Joint Venture”).
GPN has a large tenement holding in the Peak Hill goldfield through its wholly owned subsidiary Desert Resources Ltd (Desert). The tenements are highly prospective for gold mineralization.
GPN, through Desert has reached agreement with the Traditional Owners of the tenement area on terms and conditions for access to explore the tenements.
Desert completed a first pass (drilling) exploration programme on a number of the tenements in November 2006. The results of this programme were such as to warrant further exploration.
This further exploration entails a soil geochemistry programme to be followed by further drilling in or about March/April 2007.
GPN has agreed to enter into a Joint Venture (JV) with Aurium Resources Pty Ltd (“Aurium”) to progress the exploration of these tenements (subject to GPN shareholder approval).
Aurium Resources Pty Ltd
• Aurium has applied for a change of status to a public company and is preparing a Prospectus with a view to listing on the ASX as a gold and uranium exploration company.
• GPN shareholders will be offered a Priority Entitlement to a parcel of 10,000 shares (at $0.20 to a value of $2,000) in the Aurium IPO.
68 Aberdeen Street, Northbridge, WA 6003
Telephone: (08) 9228 3008 Facsimile: (08) 9228 3006
The principle terms, rights and obligations of the parties to the JV are:
Aurium’s Contribution to the JV
• Aurium will reimburse GPN $300,000 which has been expended on the negotiations with the Traditional Owners and the first pass exploration programme in November 2006.
• Tenements in the Peak Hill goldfield - E52/2086 and 2087
• $1,200,000 in exploration funds to be expended on the combined tenement package.
• Aurium is to fund the first $1,000,000 in a gold processing plant design and development in the event an economic resource is identified.
GPN’s Contribution to the JV
• Tenements E52/1481, 1518, 1557, 1857, 1860 and 1861
• Access for exploration by the agreement with the Jidi Jidi People
• Exploration results to date and the design of the next, ongoing exploration programme.
Management of the JV
The JV will be managed by a committee formed of representatives from both GPN and Aurium.
Respective Interests of the JV
• Net revenue of the JV will be apportioned 50/50 between the JV parties.
• JV working capital, in excess of the initial $1,200,000 to be contributed by Aurium, will be shared 50/50 by the JV parties.
• In the event the management committee decide to deal with an economic resource in situ – ie, sell in situ, toll mill etc then that will relieve Aurium of the obligation to source a gold treatment plant for the JV, then the distribution basis for the Joint Venture Revenues will change to 67/33 as to GPN and Aurium.
It is proposed that a Notice of General Meeting and Explanatory Statement be dispatched to shareholders seeking approval to proceed with the Joint Venture.
Denis McInerney
Chairman