Hi @madcabbie, PEX has two JV's, one with CBH at Mallee Bull,...

Hi @madcabbie,

PEX has two JV's, one with CBH at Mallee Bull, where costs are now shared 50/50, and one with a statal Japanese development organisation called JOCMEG, over a broader tenement package in the Cobar area known as the Cobar Super-Basin Project. Under the Super-Basin JV with JOCMEG (which includes the now advancing Wirlong project), JOCMEG have the right to earn 40% of the project by funding $4 million of exploration (Stage1 over 3 years) and a further 10% by spending $3 million of exploration (Stage2 over 2 years). I've haven't checked recently what stage this JV is at but I believe PEX is still fully funded for the moment. The Wagga Tank property and this new discovery at Southern Nights are on 100% PEX ground, so PEX is 100% responsible for the costs here. The company recently issued shares to SBM so is well funded to continue its efforts. Esh

http://www.cbhresources.com.au/

http://www.jogmec.go.jp/english/