ARE ann 14 Mar 2008
"On 1 November 2007 Argonaut announced the commencement of drilling on EL3195. The drilling campaign is targeting large high density, low susceptibility bodies identified by inversion modelling of gravity and magnetic data. Subsequently, Straits exercised an option to enter a contractual joint venture with Argonaut, governed by the terms of the Torrens Option and Joint Venture Agreement. The joint venture has entered the farm-in period whereby Straits must spend $7 million over a maximum of 5 years to earn a 70% interest in the project."
Questions: Did Straits spend all $7 million?
Was it all spent on court cases?
How does this relate to the current plans at EL5614 pending final approval?
ARE Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
