from memory ROG entered into an arrangement with CMR to acquire...

from memory ROG entered into an arrangement with CMR to acquire a share in the ground. the terms of which were then renegotiated about 6months ago.

we do have to take some care because the ann is only a summary of the agreement, and the devil is always in the detail. that said i also read the ann to mean that EPW has got an option to buy all of ROG's stake for $10m, and that ROG has to use 70% of the prior payments to fund their share of costs. i assume that the other 30% goes to ROG running costs, admin costs and overheads.....

i noted with some interest that EPW and CMR will negotiate separately for CMR's share in the tenements. who owns CMR?

i think i'll have to stop looking at ROG altogether and look more to MEL and EPW....hopefully it plays out differently. dyor.