Hi Buff. Yes, my understanding is that MEP get 20% if they find,...

Hi Buff. Yes, my understanding is that MEP get 20% if they find, and Oz declare it, a major SA deposit and then another 10% by MEP spending $2m to drill it out. Not sure the Qld arrangements.

But it's quite significant for OZL in SA to be able to extend the life of the Prominent Hill mine with further Copper resources and they get 70% and save the early costs of proving it up.

As MEP only just started drilling I assume it's only visuals, but they feel it's significant enough to call a trading halt and need a few days to craft an announcement.