| Gunbarrel Nickel |
Nickel |
BHP Billiton Ltd |
(75%) |
|
- |
25% |
1.5%* |
Australia's premier nickel explorer and producer with significant exploration interests in the North Eastern Goldfields of WA |
| Ashburton Red Hill |
Gold & base metals |
Red Hill Iron |
70% |
$1M/
4 years |
$200,000 |
|
2% |
JV excludes the iron ore rights (subject to separate JV between Cullen and API) |
| Paraburdoo |
Iron Ore |
FMG Ltd |
51%+
29% |
$0.6M /
3 years+
$1M / 3 years |
$75,000 |
49-20% |
1.5% |
FOB Royalty capped to 20Mt |
| Hardey Junction |
Gold |
Intrepid Mining Ltd |
70% |
$800,000/
4 years |
$75,000 |
30% |
2% |
Intrepid is mining the Paulsen's gold deposit, located ~15km north of Cullen's tenements; production of gold started in mid 2005 |
| Mt. Stuart |
Iron Ore |
API (50% owned by Aquila) |
(70%) |
|
|
None |
50c per tonne royalty |
API has commenced pre-feasibility study of its regional interest |
| Tunnel Creek |
Uranium |
Thundelarra/
Element 92 |
70% |
$1M / 5 yrs |
$500,000 |
20% |
2% |
Thundelarra, a major shareholder in Aldershot - which holds the Turee Creek uranium project nearby |
| Wyloo |
Iron Ore |
FMG Ltd |
51%+ 29% |
$1M / 3 years+
$1M / 3 years |
$150,000 |
49-20% |
1.5% |
FOB Royalty capped to 15Mt |
| Forrestania |
Nickel, Gold |
Hannans Reward Ltd |
(80%) |
- |
- |
20% |
2.5% |
Hannans Technical Director, Mr. Terry Grammer, past founding director of Western Areas and co-discoverer of "Cosmos" orebody. |
FCI = Free carried interest
FOB = Free on board
NSR = Net smelter return
*Subject to Pegasus Royalty