Thats not quite how I read it asteroider. To me it reads 3 ELs...

Thats not quite how I read it asteroider.

To me it reads 3 ELs for $400,000 cash. I think the rest of the deal i.e. 2 active mining licences and all the other stuff that goes with it which is for a consideration of $2.3m & $400,000 of shares, will only go through if the commercial quality of the mine is determined by an independant expert.

But to be honest, I don't think the announcement is particularly clear,

Here's the link for those that want a read and can maybe clariy it or all of us.

http://www.asx.com.au/asxpdf/20080125/pdf/3172zr1xjtg68m.pdf