RE: Headway Joint VentureReading yesterday's posts I was tempted to jump in and explain how a JV works but then I figured that these guys probably know how a JV works so I'd be wasting my time.
Plus I don't want to disturb the productive discussions taking place here.
I suspect that they know that the $500,000 is just the initial earn in for Richview to become a member of the JV. The cost of further exploration is shared by the JV members on the basis of their interest in the JV or their interest is diluted if they choose not to participate. Thus if the project is successful and more work is deemed appropriate Richview will have to contribute 45% of all future costs to maintain their 45% interest. Over the next few years Richview's share could be several million $.
At least that is my understanding but I'm not going to say anything.
Bonne chance à tous
Herve