MRX/DYL Joint venture Historical Uranium Producing Region- Mary Kathleen and Summit Project DYL selected as partner from competitive process DYL have been granted access to explore for Uranium on MRX 5000 sq/km tenements in the Uranium rich Mt Isa- Cloncurry Region
DYL have identified new zones of U308 mineralisation and anomolism
2000m of drilling testing to depths of 120 mtrs have been carried out and completed in December and i assume results out some time in febuary....perhpas that is why the shareprice has moved on large voluume, someone must know something as some of the buy orders were in the millions
The deal as follows: DYL HAVE THE RIGHT to earn 51% interest by spending $3 million over 3 years The expenditure committments require DYL to $500,000 in the first 9 months and to issue Matrix ordinary shares in DEEP YELLOW equivalent to 2.2% of the issued capital approx 18 million shares to MRX) This equaes to a current value of approx $9 million bucks. also dyl can buy out the remaining interest by paying MRX the equivalent of 15% of the inground value once DYL have done the BFS etc....
one to hold
P.S Smacka...i dont see why MRX need to update the market with regards to the drilll programme as DYL are the farm in company that are active on their tenements therefore it is up to DYL to advise updates to the market...sheesh fella
MRX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
