Ann: Outstanding Drilling Results from the Anthill Gold Project, page-102

Yes is confusing ..I should have asked JP in the last email I sent him ...

want gets me is the term 25% of the area ? not 25% interest of the whole project (was this an out if AXF decided they didn't want to proceed they still would get 25% of the land?)

- An earn in Joint Venture (“JV” whereby AXF can earn 25% of the project area by spending A$1m within a 1 year period and maintaining the project in good standing

Not that it really matters as AXF are committed to funding the next 5mill -and as it states in the original ann. >

 The joint venture covers the 100% owned Richmond project in North-Western Queensland and metal rights owned by Intermin on nearby properties

Be very interested to see how much 6mill worth of funding will take the V project ...how good will the feasibly study be? will it be defined or just scoping or somewhere in between