'AZX holding the operator status of the Bullabulling project makes AZX is in the box seat'
that there is NO 'formal agreement appointing Auzex as the Manager of Bullabulling. It's a JV, 50-50, although you could agrue that as GGG hold more shares in AZX than the other way around GGG actually own slightly more of BBling.
Also from the Agreement:
Bullabulling will be governed by a Joint Venture Agreement between the Company and Auzex. It is envisaged that feasibility and development expenditure for Bullabulling, will be jointly funded on presentation of a budget. If either party should elect not to contribute, then they will be diluted on a straight line basis, using an initial valuation of A$5 million. * The majority owner of Bullabulling will manage the joint venture. In the event of 50:50 ownership and no clear majority, a management committee will be set up to represent the interests of both parties.
AZX Price at posting:
39.5¢ Sentiment: LT Buy Disclosure: Not Held
