It is hoped that the strength of metal prices will return and enable the PlatSearch Group to negotiate favourable joint venture deals on its mineral exploration properties with an equity component. 

It is intended that a proportion of such equity on a case-by-case basis will reside in B23. 

B23 will actively monitor the PTS Group’s investment portfolio.

Such equity arrangements were achieved with:

• A significant proportion of PlatSearch’s equity in Eastern Iron Limited (ASX Code: EFE) is owned by Bluestone (5,000,000 shares);

• The PTS joint venture with Newport Mining (ASX Code: NMN) (Pathfinder JV) includes an equity component that is owned by Bluestone being 500,000 shares and 1,000,000 options;

• B23 acquired 1,250,000 shares in Chesser Resources Limited (ASX Code: CHZ) in a placement; and

• B23 acquired 500,000 shares in Silver City Mining Limited (Proposed ASX Code: SCI) in pre-IPO seed capital.