Re the ORRI. Very minor. Now to clear what's left of those 700 million shares issued since Feb and then blue sky.
PATHFINDER PROJECT OWNERSHIP Austin also reports that it has successfully negotiated a buy-out of the remaining 15% Working Interest in the Pathfinder project, with no cash component included in the transaction. Austin traded a 1.55% Overriding Royalty (ORRI) for the 15% Working Interest that was previously held by a private company. As a result of this transaction Austin now has a 100% Working Interest and a 75% Net Revenue Interest in this project. This transaction provides Austin complete control and optionality over the project’s future development. Further, it significantly improves the economics behind the project should the Company pursue debt funding for the future development of this property.
AKK Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held
