RE: RE: RE: RE: Juniors set to rebound? Show a little responsibility. This is how they will come up with startup costs. But you already know that, don't you. LOL.
JOINT VENTURE/OPTIONS WITH HUDBAY MINERALS
VMS Ventures signed a Joint Venture Agreement with a subsidiary of HudBay Minerals Inc (T.HBM) for the
Reed Lake Discovery Zone in July, 2010. HudBay has a 70% interest, and VMS a 30% interest. The JV includes
four mineral claims and covers an area of 917 ha. HudBay is the operator and is responsible for the full financing
of VMS’ proportionate share of the development costs, which VMSwill repay solely from its share of the cash
flow that the project generates. A management committee that includes representatives from both HudBay and
VMS Ventures determine the exploration and development activities for the property. VMS Ventures and
HudBay also signed option agreements on four of the properties surrounding the Joint Venture.