Pilbara Goes for Gold......., page-6

Thanks @Wack – the JV's wordings make interesting reading however I suggest there may be a few gaps in the detail that a good lawyer could drive a “B Double”through if push came to shove.

Whilst there can be little doubt the JV's were initially entered into by the parties for the Structural Gold only, a wider interpretation of the JV's terms today could be that they give DEG access to all gold that is not specifically excluded in the wording. For example any gold below 3 metres in the VanMaris tenements & 6 metres in Blue Moon.

With regard to the FarnoMc JV, the question still remains – is Conglomerate gold classed as Alluvial ? If not I would suggest DEG has a claim to that gold.

With the growing 'knowledge base' around conglomerate gold in the Pilbara, I would suggest that any JV's written today would need a far tighter interpretation.

I guess this whole issue is somewhat academic unless quantities large of conglomerate are found on these JV tenements.

In any case I have the utmost confidence in DEG to manage any issue along these lines to the benefit of all shareholders.

Cheers Ark