simonincairns, page-3

@Welkin31 the following is an extract from the PEX Q1 2016 Quarterly Activities Report;

EL7226 and EL6695, the Wagga Tank Project, was held in Joint Venture by MMG Australia Limited (80%) and Golden Cross Operations Pty Ltd (20%). Subsequent to the quarter’s end, Peel acquired 100% of the Joint Venture interests with MMG Australia Limited receiving $1 consideration and 2% NSR on any future metals production; and Golden Cross Operations Pty Ltd receiving $40,000 cash. The Wagga Tank Project comprises many historic mineral occurrences and prospects including the namesake Wagga Tank polymetallic deposit.

GCR do not hold a 2% NSR, it is MMG that does.