Monument Mining Ltd V.MMY

RE:RE:Further Commentary on ODY and Tuckanara Development

[nozzpack]

Wayne
I am not guessing that  information but rather from a review of the terms of the JV which states ..

• Retain a 20% interest in Tuckanarra Project free carried until a decision to mine;
• Preferentially process ODY’s gold ore through Monument’s Burnakura gold plant subject to commercial terms;
• Jointly develop the Tuckanarra Gold Project through an unincorporated joint venture.

 

 

So as you can see, we are freely carried until a decision to mine is taken.

At that point, via an unincorporated Joint Venture, mine development costs will be shared, presumably according  to current WI ie 20 % for MMY.

So, ODY will position MMY at a very early mining decision, allowing MMY the time to drill define more economic resources for the Burnakura mill  at one or more of its higher grade pits .
Timing will then be great for a potential suitor to makes its move..

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