STZ 0.00% 2.0¢ strzelecki metals limited

TFP,"Sold" in relation to the JV STZ entered into with Tortuga...

  1. 1,068 Posts.
    TFP,
    "Sold" in relation to the JV STZ entered into with Tortuga may sound a little nagative to those new to STZ. I thought I may copy/paste more detail for NoPunditHere:
    "Under the agreement Tortuga may earn up to 80% interest in the tenements by spending $4 million on exploration over the tenements within five years. Tortuga will earn its interest with three expenditure tranches of $0.75, $1.5 and $1.75 million corresponding to an earned interest of 15%, 51% and 80%. If STZ's interest reduces to 20% then STZ may elect to convert its share to a 14% free carried interest through to the development and mining of a deposit within the tenements."
    The reason why these tenements are of so much interest to us, STZ holders, is the fact that BDR has drilled a few holes that hit nice widths of gold, potentially implying the discovery of a new gold province.
 
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