RE:RE:On Sedar it Says 60/40 for DIA Looks like when this Drill program is complete ti will be 77% ADD and 23% DIA.
From their news release
Project Management
The Diagras diamond project, originally a 60/40 joint venture between Margaret Lake Resources Inc. (TSXV: DIA) and Arctic Star (TSXV: ADD) respectfully. Margaret Lake has recently undergone management changes and has shifted its focus elsewhere. In 2019 Margaret Lake informed Arctic Star that it had no exploration plans for Diagras.
The joint venture agreement allows for Arctic Star to take over management in such a situation by proposing and excuting a plan and budget. Arctic Star proposed a $2,100,000 budget for the Diagras project 2021. Margaret Lake has informed Arctic Star that it will not to participate. In such a case the JV agreement has a dilution formula. At the time Arctic Star expends the proposed 2021 budget the ownership will change to approximately 77% Arctic Star and 23% Margaret Lake. Arctic Star will continue as the operator. If Margaret Lake dilutes below 10% in the future, the company’s interest converts to a 1.5% GOR.