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You're at least a week premature - the dates were in the RNS:-
"The parties have discussed and agree that completion is scheduled around 1 November 2022 ("Completion") with the one time payment of US$35 million scheduled five days post Completion."
First one, this week telling us all signed and agreed and second, maybe next week confirming funds...
Corcel used to be Regency Mines one of Andrew Bell's dogs. Bell pushed Mambare, a nickel laterite deposit, for years. No takers. If you thought access at KM was difficult wait to you see where Mambare is located.
TDT
Apologies. Wrong thread!
MOU Highlights:
o Intended creation of a Singapore based upstream Battery Metal joint venture which will, subject to contract, own CRCL's position in the Mambare and Wowo Gap projects alongside the Doncella lithium project in Argentina
o Corcel intends to own 50% of the proposed JV, benefit from a $1.5m carried interest and a 1.5% gross revenue royalty on Wowo Gap and nominate half of the Board of the JV - It is the intention of the parties to list the JV in Singapore in the medium term
o Introduction of a new cornerstone investor with Corcel plc Board representation as part of a fundraising of £200,000 at a price of £0.004 (no discount to the closing price) with 1 for 1 warrants exercisable at £0.005 per share
James Parsons, Executive Chairman, commented: "I am delighted to welcome Mr Yan Zhao to the Board and to the shareholder register. We believe this proposed PNG restructuring, with its associated carry, and an ultimate Singapore listing, is the best way to bulk up and ultimately unlock the significant value in our battery metals portfolio."
Proposed Battery Metals Joint Venture, New Cornerstone Investor, Placing, and TVR
My Understanding about the Repayment Dividend is As long as it is Paid as A Return Of Capital then there should Not be any Tax Implications with that Type of Payment. Hopefully they can put a Caveat in their Present Undertaking that if no Suitable Reverse Company can be found the Remaining Cash Fund is Returned to Shareholders as Capital Repayment .
One hopes that the AMC team are not all sitting there with an abacus working out the tax implications for shareholders and are actively looking out viable RTO opportunities!!
Compared to BION, AMC is more attractive as they will have more money in the bank (after the div payout). what is interesting about BION is that they have around £504K in cash and cash equivalents, yet their market cap is £1.1m.
Hi,
Interested in this RNS this am…
https://www.londonstockexchange.com/news-article/BION/final-results-and-publication-of-annual-report/15668022
BB2
AZOV are no-more. Putin de-nahzified them to fk.
ASOV Brigade are fighting what again ?
Tyson Fury ??
ASOV Brigade are fighting what again ?
Nothing greedy or selfish about Zelenskys $35 million dollar mansion in Sunny Isles Florida then of course not he earned every cent as a Lycra clad actor playing the piano with his appendage amongst other things WEF puppet ??
Following receipt of the consideration of US$ 35 million, the Company intends to pay a special dividend of 1.8 pence per share to be paid to Shareholders WITHIN 90 days of Completion.....hopefully with a Merry Xmas message.....
In my view, the last day we can expect payment is around 6 or 7th of Feb '23 bearing in mind the payment will be received 5 days after completion date of 01 Nov '22
Happy to be corrected
I think the fact its going to take 90 days to pay is a strategic decision. Imagine the interest on the $35m for the 90 day period. If my calculation isn't wrong that alone will make up Youngs 3-5 months salary payments depending on what interest rate you use.
Typically opaque- plus ca change...
GB
Recent RNs states
"The parties have discussed and agree that completion is scheduled around 1 November 2022 ("Completion") with the one time payment of US$35 million scheduled five days post Completion."
Previous RNs states
"Following receipt of the consideration of US$35 million, the Company intends to pay a special dividend of 1.8 pence per share, within 90 days of Completion."
So we could be looking at end of Jan 2023 at the latest
Then it takes them 90 days to take on the massive task of paying each shareholder 1.8p per share.
The agm being in Dec. Means that holders won’t be inclined to Stick an enormous jackboot up the chuffs of the board and vote them off.
MMMmmmhhh
MD
Just 3 weeks to go (hopefully) and the deal should be completed
No tongues or cheeks allowed here :)
MD
I did make it up lol, it’s called tongue in cheek. Jaytem is a balloon though.
"Let’s hope the Russian authorities don’t read this post....."
You couldn't make this up!!!!!!!
"Let’s hope the Russian authorities don’t read this post....."
Really! I mean really! You don't think they've got other more pressing issues to attend to?
TDT
Jaytem, fighting fascism?Ukraine /NATO lol lots