ok here is the full deal its a win win win for TAM :-The...

ok
here is the full deal its a win win win for TAM :-

The directors of Tanami Gold NL ["Tanami"] are pleased to announce the Company has entered into an alliance with ABM Resources NL ["ABM"] to explore for gold, copper and other minerals in the highly prospective Tanami-Arunta province in the Northern Territory ("NT") of Australia. The alliance will involve Tanami transferring its NT tenements to ABM and will involve ABM initially spending a minimum of $10 million on the tenements over a two year period subject to access conditions.
In consideration for the transfer of Tanami’s NT tenements to ABM, the Company will receive:
•
$1,500,000 cash.
•
265,000,000 fully paid ordinary shares in ABM resources at no consideration. Such shares will be subject of a 12 month voluntary escrow period.
•
150,000,000 unlisted options with an exercise price of 1.5 cents and an expiry date of 5 years. The exercise of the options is conditional upon ABM’s shares trading at or above a minimum VWAP of 3 cents over 20 consecutive ASX trading days.
•
150,000,000 unlisted options with an exercise price of 1.5 cents and an expiry date of 5 years. The exercise of the options is conditional upon ABM’s shares trading at or above a minimum VWAP of 3.5 cents over 20 consecutive ASX trading days.
•
One seat on the ABM Board.
Tanami will be the single largest shareholder in the restructured ABM with an initial equity position of around 26%.
The aim of the transaction is to fast track exploration of the highly prospective

1. they get 1.5 mil cash.

2. they pick up 50% of ABU for 2.5 cents a share.

3. they get ABU to fund exploration of those tenaments to the tune of 10 mil over the next 2 years.

4. they are assured of keeping their controlling holding in ABU by making sure that they are able to participate in any capitol raising to keep their holding status the same.

wooohooty we have 100% return on the capital already no expenditure costs on the above said tenaments & we are fining visible gold in a vein of extensive strike length open ended !! what more could you wish for look for it breaking above 7 cents very soon IMO ;))