"Under the agreement, Antofagasta can earn a 51% interest in the Punt Hill project by committing US$4 million over four years. Once Antofagasta has obtained this 51% interest, Monax has the ability to remain at 49% by co-funding exploration or development costs, or can elect to have its interest diluted. Antofagasta can earn a further 19% equity in the project by expending a further US$5 million on exploration and development of the project tenements. If a development decision is made, Antofagasta will pay Monax a success fee of US$10 million."
As I read it, MOX only giving away 51%. Can elect to contribute & stay at 49%. Who would complain if you have 49% of an Olympic Dam.
MOX Price at posting:
5.7¢ Sentiment: Hold Disclosure: Held