Trinity's agreement from (CEO) 12 Nov 2010...

Trinity's agreement from (CEO) 12 Nov 2010 announcement:

"...
Trinity will be responsible for the identification and technical evaluation of opportunities in
Mongolia and will assist in the negotiations to secure ownership of such opportunities.
Trinity will also assist CEO by conducting agreed activities undertaken in Mongolia, including
legal and financial due diligence, technical services such as drilling and initial interactions
with potential project vendors. In exchange for these services, CEO will provide Trinity with
monthly advances to cover local outlays.

Upon identifying an appropriate opportunity, an unincorporated joint venture will be
established to acquire the project assets. CEO will hold a maximum 90% interest in the joint
venture, with Trinity having a 10% free carried interest until the project has achieved a
200Mt JORC compliant indicated or inferred resource. Upon reaching this milestone Trinity
will be required to contribute to expenditure on the JV project proportional to their interest.
..."

Assume nothing's changed, so upon a 200Mt JORC,
I'll not only be celebrating, but Trinity will be fully responsible for all following costs @ 25%, as noted.

Well worth the agreed value, given the effort to-date, imo.


By the way, not too worried about vic's opinion at present - 'ignoring' the commentary until the record / CD changes.

Cheers :)