reply from SEG re announcement of joint venture and who is Port...

reply from SEG re announcement of joint venture and who is Port Exploration,
Port Exploration Pty Ltd is a private company (ABN 76 603 588 692).  The sole director is Paul Fromson, who has been involved with several exploration and mining companies previously.  He is currently a Non-Executive Director of Mt Ridley Mines (ASX: MRD).  A key part of the Term Sheet is that Port needs to list on the ASX, become a subsidiary of an ASX-listed company or assign its interest in the JV to an ASX-listed company within 6 months.

I hope this helps clarify the transaction.

Regards,
Steven.