Cheap house on a great street, page-5

18/3/15 ann by ALY (not by NST too btw)

'A key element of the Agreement is that Northern Star expressed an intention to introduce Alchemy where possible to projects which do not fit the Northern Star business model.'

Curious!

I believe that it took much searching by the ALY CEO to find something suitable. That led to 2 investments in fact, and relatively recently too. I can't see any sign of NST influence with either of them.

It must be remembered that ALY sold a fair part of its gold tenements to NST early last year and winkled a jv for the other gold areas. I think that NST was keen to get hold of some gold feed for the money-munching Plutonic plant and that ALY's Hermes deposit was a big carrot. ALY probably thought that it did pretty well out of the transaction.

This was the essence of the deal:

'Pursuant to the Agreement Northern Star has purchased the tenement containing the Hermes gold resource and adjacent tenements in return for $1.45M cash and a royalty payable on refined gold recovered from the Hermes tenements. Northern Star has also invested $500,000 in Alchemy in return for 33.33M fully paid ordinary shares in the Company making Northern Star Alchemy’s largest shareholder with 14.57% of issued capital.
Alchemy is pleased to announce the appointment of Ms Liza Carpene to the Board of the Company as Northern Star’s nominee director.'