Under the terms of the Imperial / AEP Joint Venture agreement, AEP committed to paying A$20,000,000 cash to Imperial and free-carrying Imperial through A$80,000,000 of exploration and appraisal expenditure, in exchange for an 80% working interest in Imperial’s Northern Territory tenements. On a results driven basis, AEP committed to procuring JV financing for up to an additional US$560,000,000 for exploration, appraisal and development expenditure.
Under the terms of the Imperial / AEP Joint Venture agreement,...
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