springhill
Make the drill work for YOU
- Joined
- 20 June 2007
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Re: POZ - Phosphate Australia
From POZ's latest quarterly
Musgrave PGE, Ni, Cu Project (WA)
As announced on 2 April 2012, the Company has negotiated a $3 million, four year farm-in agreement for its Musgrave PGE, nickel and copper project in Western Australia, with Anglo American Exploration (Australia) Pty Ltd (“Anglo American”), a wholly owned subsidiary of Anglo American Plc, one of the world’s largest mining groups. This agreement covers the three core tenements within the Musgrave project area near the WA border with the NT and SA: E69/2862, E69/2863 and E69/2864 (Figure 3).
The key terms of the Agreement are for Anglo American to complete a SPECTREM airborne electro-magnetic survey over greater than 80% of the total area of the three tenements. Anglo American will have four years to meet the earn-in requirements at which point Anglo American will earn a 70% interest in the tenements and a Joint Venture will be formed. In order to meet the earn in requirements, Anglo American must spend a minimum $3 million dollars including the reimbursement of prior expenditure and completion of the SPECTREM survey.
Prior to vesting of the 70% interest, Anglo American is also required to complete a minimum of 5,000m of drilling on the tenements. POZ will be free-carried by Anglo American through any subsequent exploration and evaluation phases within the Joint Venture tenements until the completion of a Bankable Feasibility Study.
That's a big call inferring POZ could be the next SIR. Considering there is not even an airborne EM
The next SIR is more likely to come right next door to SIR. Take a look at BOA mate, will be hitting the market soon.
From POZ's latest quarterly
Musgrave PGE, Ni, Cu Project (WA)
As announced on 2 April 2012, the Company has negotiated a $3 million, four year farm-in agreement for its Musgrave PGE, nickel and copper project in Western Australia, with Anglo American Exploration (Australia) Pty Ltd (“Anglo American”), a wholly owned subsidiary of Anglo American Plc, one of the world’s largest mining groups. This agreement covers the three core tenements within the Musgrave project area near the WA border with the NT and SA: E69/2862, E69/2863 and E69/2864 (Figure 3).
The key terms of the Agreement are for Anglo American to complete a SPECTREM airborne electro-magnetic survey over greater than 80% of the total area of the three tenements. Anglo American will have four years to meet the earn-in requirements at which point Anglo American will earn a 70% interest in the tenements and a Joint Venture will be formed. In order to meet the earn in requirements, Anglo American must spend a minimum $3 million dollars including the reimbursement of prior expenditure and completion of the SPECTREM survey.
Prior to vesting of the 70% interest, Anglo American is also required to complete a minimum of 5,000m of drilling on the tenements. POZ will be free-carried by Anglo American through any subsequent exploration and evaluation phases within the Joint Venture tenements until the completion of a Bankable Feasibility Study.
That's a big call inferring POZ could be the next SIR. Considering there is not even an airborne EM
The next SIR is more likely to come right next door to SIR. Take a look at BOA mate, will be hitting the market soon.