Good explanation 123enen, people often misunderstand this issue...

Good explanation 123enen, people often misunderstand this issue and I am not sure the JTC would want to assume the responsibility for developing a new mine off the north west of WA (the Chinese may want to which may give Tony some ammunition against the JTC).

IMO it would advantageous for the end user to:

1. take a 10 - 15% ownership in the company (providing Tony with some working capital, indications in earlier threads were he wanted 30M, this at 78 cents plus some options at the same 78 cent exercise)

2. contribute significantly towards the upfront capital with reasonable interest rates (payable over stage one)

3. secure 100% supply of top quality premium product.

This would then leave Tony to develop the mine with a good return to shareholders.

The end user would secure a valuable product, be provided a good return for the upfront finance and take 10 - 15% in a company which has significant upside potential (capital growth). It also give the end user a strategic position for stage 2 onwards.

With the closure of the neighbouring island next year which currently supplies the JTC, it's hard to see an alternative for the JTC.