mr magic million capper now gone for now. lets see the buy side pick up next and back to 8's.
and here's a reminder of one of a few previous JV with Matrix at White Range. So at the very least the big players are aware of what QMN have.
McCabe Joint Venture
The McCabe Joint Venture was signed in October 2006, providing for Xstrata Copper to earn an interest in the McCabe Deposit and the surrounding exploration permit (EPM). The structure of the Joint Venture Agreement (JV) is as follows:
- Xstrata Copper has the right to earn a 55% JV interest by spending not less than A$5m within a three year period.
- Xstrata Copper then has the right to earn a further 20% JV interest during a sole funding period, by spending a further A$10m within a further five year period or by completing a feasibility study during the sole funding period.
- Matrix maintains 100% ownership of the tenements to a depth of 100 metres until a decision to mine is made at which time the JV has the right to buy that part of the tenements at fair market value.
