29-Jul-03 - Image Resources NL
Has entered into a joint venture with Sir Samuel Mines NL, a wholly owned subsidiary of Jubilee Mines NL, on Image’s 90%-owned Emu Lake nickel project. Under the terms of the agreement Sir Samuel will manage the project, and earn a 60% interest in the tenements by payment of $100,000 cash, whilst sole funding exploration and committing to the completion of a bankable feasibility study by December 2008. Image and the vendor will retain a 30% interest and 10% interest respectively, free carried to completion of the feasibility study.
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