Platina now have the upper hand in the Munni Munni JV. CN needs to see what's happening with Artemis as a whole and where it stands today. The SP has plummeted to 5.2 cents today, they need to raise funds to fund 2019 CORE activities. Munni Munni is on the backburner.
Where are the ARV late 2018 assay results for Munni Munni ? they were claiming they spent the required amount to get their 70% of the project. That spend included the re-assays of the old cores as well as some new drilling.
If they (both parties) have not finalised nor closed off the JV yet, then don't sign it. CN first needs to see proof of funds spent as part of the earn in. Where are those assays? ARV and PGM shareholders want to see them. ARV has copped a battering in the last few weeks .. The SP is plunging and the new directive is for a clear focus on the Carlow Castle project. Munni Munni is not a core project this year nor in the foreseeable future.
ARV could just hive it off for a paltry sum to another party .. the shareholders have not seen the full JV agreement and there must be some escape clause in it or a time frame to progress the project. If the agreement terms are not met or cannot be met, ARV should pull out of the JV and hand it back to PGM.
Let's see how CN handles this unforeseen opportunity to get the WA Palladium farm back. Think outside the box guys. Seize the moment Platina!
Just my views.
HR
