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Doing very well I hope there is not a placing but if they do it’s at a high price and it’s done to see it through to production. A jv would be perfect gla
Considering the drops in the miners today we are holding up very well.
Looking really strong. Just shaken out some sellers by the looks of things.
I think the drop to 0.29 was just a Bed & ISA
Dragged some more sellers out...
And is that 11k it or are there more
Sells are been soaked up in these bigger buys . Into sticky hands. Re rate is continuing.
Yet Another big buy..
Happy with gradual rises in anticipation of news. A day of consolidation wouldn't even be bad news at this stage as interest and sentiment appears high.
Id take 10% a day , .35 sounds good to me :)
Yesterday I said 0.5 end of week. Very optimistic. Close 0.35 today .
So what kind of day are we predicting? .35 ginish .4 or higher? :)
And the third 10m buy in as many days. Tr1 due imo.
It’s a buy from Friday
As outlined in the Agreement, the Company has the ability to acquire a 100% interest in tenement M47/342 (covering 3.63km2), which encompasses the Elizabeth Hill Silver Project for consideration of 200,000,000 Common shares (“Shares”) and 50,000,000 warrants in Alien Metals, which KMG will distribute to its shareholders (“Distribution”). The Shares would be deemed to be issued at a price of £0.0014 each, and each warrant would entitle the holder to purchase one share at a price of £0.0025 for 18 months from the date of allotment of the Shares.
Completion of the transaction is conditional upon, amongst other things, satisfactory mutual due diligence, and obtaining all required third party approvals (including under the Mining Act (WA) and from KMG’s shareholders for the Distribution) and is expect to occur in first quarter 2020. Pursuant to the Agreement, Alien will enter into a royalty agreement with a third party under which the third party will be entitled to a royalty of 2% from all net smelter revenue from the Elizabeth Hill Silver Project.
Under the terms of the Agreement, Alien will as soon as reasonably practicable and by no later than 6 December 2019, and at its costs obtain a legal opinion on the Project.
a) Upon obtaining the legal opinion and at its sole election, Alien will lend KMG up to A$120,000 on the following terms and conditions (“Loan”):
b) the Loan is limited recourse and only repayable in the event the Seller breaches its obligations under the agreement or the Seller’s shareholders do not approve the Distribution;
c) the Loan accrues interest at 1% per month;
d) proceeds may only be used to perform the Seller’s obligations under this agreement (including using reasonable endeavours to satisfy the Conditions).
Daniel Smith is the sole director and shareholder of Kingmaker Metals Pty Ltd (“Kingmaker”). Kingmaker holds approximately 22% of the issued share capital of KMG. In the event the transaction completes and KMG undertakes the Distribution, Kingmaker will hold approximately 2.5% of the issued share capital of the Company.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
You can check the December 2019( dated 4th and 19th) RNS's for details on the acquisition agreement (too long to paste here) and reasons why mining was suspended by KMG due to a depressed silver price making it uneconomical for them to continue at the time. The acquisition seems well timed and fortuitous looking at the current silver price.
Does anyone know why Karratha Metals Group are selling Elizabeth for ? & where are we going to get the cash from ? it’s going to be pricey considering the silver price doesn’t seem like the best time to be buying