Ann: Preliminary Discussions with Potential Partn, page-3

re: Ann: Preliminary Discussions with Potenti... Fingers crossed TPP.

Looking back, the Sumitomo deal was $15m for 45% and then another $100m for another $25%.

The only cavaet was that the additional $100m was to equate to 90% of the total spend during the development stage, which meant MDX would be sitting on a commitment of $10 that they'd have to find.

Maybe its because these shares have been in the bottom draw for too long, but I'd be content with 80% and free carried to DSO production and then further options to dilute for magnetite development.

GLTH