Ann: Blina Secures Copper Interest in Madagascar, page-40

A very positive ANN overall, despite the 100mil dump. Who cares - this project is real and definitely worth the looooong wait. 

Can anybody please explain what the deal is here?

BDI issue 180m shares and pay $200k to commence exploration activities (GeoMag survey, trenching etc at a cost of about $700k) then after due diligence they issue 120m more then another 200m on indicated resource definition. So does BDI also have to pay Madacu exploration costs of US $2m (stage 1)? and does this mean that BDI effectively have a 70% interest in the tenements once. I don't understand?

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