Looks like AZC will remain a separate entity from the joint...

Looks like AZC will remain a separate entity from the joint venture (Murray Zircon), with Marty Adams now appointed as Executive Director as well as his current position of CEO.

Murray Zircon acquired the assets of the Mindarie project in return for 35% of the JV + $16.25m which has kept the company operating.

Once the BFS for WIM150 has been completed, the JV has the option to acquire this asset also, for a further $23.75m. I suspect some of the cash payment will be used as AZC's contribution to the JV to get back into production and to keep the company solvent. With any luck AZC may start receiving income before the cash runs out and avoid a cap raising.

I am still keeping positive