Aug 17th 2012 - Edison Investment Research today published a report on Gunson Resources entitled "Coburn JV Agreement". In summary, the report says:
On 13 August 2012, Gunson Resources announced an unincorporated joint venture structure, subject to formal approval, with the major Korean steel producer, POSCO, for its construction-ready Coburn mineral sands project. The investment vehicle, POSCO SPV, will earn a 40% interest through an A$7m initial payment to Gunson and then contribute the first A$21m of Gunson’s share of mine development expenditure. Each party will be entitled to its proportional share of the proposed production from the project and contribute its respective share of mine development expenditure.
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