Musgrave Range Project
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Following the successful earn in by Redstone Resources, RMC management and geologists reviewed the potential of the JV area and elected to move from a 25% contributing JV participant to a 10% non-contributing free carried position.
(Under the terms of the original Farm-In Agreement, RMC has a one off option to convert its Participating Interest to a 10% free carried interest subject to certain conditions. RMC believes these conditions have been met with the appropriate written notice and other documents having been provided to Redstone.)
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