fox just pulled a rabbit out of the hat, page-10

Fishing - They already paid $3 mill up front for the 60% IO jv, and committed to a further $20 mill in exploration and development of this area.

Are you saying that they are happy to firstly chip in 15cps and then 30cps, to the total equivalent value of around $10 mill in order to get a better stake in the company, and of course to keep them very well financed??


They had no need to further contribute in this way. I can only assume (hope) it is because of a great deal of confidence in FXR moving forward.

It certainly leaves FXR well financed (especially if the oppies are converted as well!!!)