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Ann: September 2014 Quarterly Activities and Cash Flows Report, page-3

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Slider on the black

1,630 Posts.

06/11/14

20:55

Post #: 14248551
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Originally posted by Slider on the black ↑

From quarterly:

Punt Hill Project – copper-gold
(Monax 49%; Antofagasta 51%)
The Punt Hill Project is subject to a farm-in agreement with a wholly-owned subsidiary of Antofagasta. Antofagasta has earned 51% interest in the Project by providing funding in excess of its initial US$4 million Phase One Earn-In commitment.

A two hole diamond drilling program commenced on 25 September with holes planned for the
Groundhog and Bottle Hill prospects

Parndana Project – silver-lead-zinc
(Monax 100%)
..............To assist with locating further drill holes, Monax completed a gradient array IP survey to accurately locate the chargeable anomaly.

..................................It is clear that the two completed drill holes did not target these zones and the main chargeable anomaly remains untested.

Also:
During the quarter, Monax applied for a further two tenements in NW Queensland.

Expand

Why,
would Antofagasta (£6.8b mc) who have spent (via Monax Alliance) in excess of US$4m on Punt Hill,
pay for another two diamond drill holes which commenced 25 September?

MOX Price at posting: 1.6¢ Sentiment: None Disclosure: Held
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