Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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And we can assume Kopore have done some due diligence as well on ARCM.
Presumably the company think it still represents good value or they would have pulled out of the deal. Either that or they know that news will be released imminently which will positively affect the share price.
Another alter-ego in the little green box.
The ideal scenario is it takes a bit longer, and in the mean time the company are able to issue something that helps raise the SP. Currently 1.2M is looking like 3% of the issued shares.
Slurms,engaging in conversation with a poster( that has already been outed as a dual id poster,and has a subtle style to draw people into conversation and then then tries to instill doubt), is exactly what they want-filter.
Teaye,
This is a deal GLR are inthe process with Sandfire for- it still hasn't completed. There are 9 licences here and the deal structure is different. The area is very popular at the moment but the 75% of the 2 licences does seem expensive. If there are tonnes of copper and silver in the licences then they won't work out expensive - the gamble of exploration.
https://www.lse.co.uk/rns/GLR/sale-of-9-licences-for-us3m-subscription-cu8dy1vk7bje4e1.html
CleverThoughts, Teaye,
This hasn't changed from the 26th July announcement - still waiting ministerial approval.
False rumours hit confidence and affect share prices.
When searching for truth people need to be aware that false assertions have consequences beyond this forum.
Helping to take the share price down effects long term shareholders due to the dilutative effects of additional shares needed when transactions like this (kopore) happen.
Some people have shot themselves in the foot a bit.
Slurms,
Could you pleade clarify what you think has changed with your last two remarks?
How come ARC doesn't have to release an RNS as well? Would have thought they would...
In any case, the number of shares that it will require aside, do people think this is a good deal?
Happy Friday...
T
(ie) people saying the company wasn't funded. I saw the results of that spill over onto twitter.
Slow clap for those spreading false rumours.
And with a ridiculously low 10-day average they will now be getting a ton more shares for their £1.2m…
Kopore RNS - released 23:25. Quarterly update.
Virgo Project
As announced to ASX on 25 March 2021, the Company has entered into a binding term sheet to assist with ongoing exploration at the Company’s Virgo Project in the Republic of Botswana (Transaction).
On 26 July 2021, the Company announced that definitive binding transaction documents had been executed with ARC Minerals. Closing is expected shortly following receipt of Ministerial approval in Botswana.
The material terms of the Transaction are as follows:
o ARC to issue £1.2 million in ARC shares valued at a 10 trading day volume weighted average price ("Arc Shares") to Kopore in consideration for the purchase of 75% of the issued capital of Alvis.
o ARC retains an option to acquire the remaining 25% of Alvis for
consideration of US$5 million. The option is valid until a Final Investment Decision (“FID”) is reached by Arc and the option consideration is payable
in cash or ARC Shares (or a combination of the two) at the election of ARC.
o ARC is responsible for sole funding Alvis up to FID, ensuring that Kopore’s remaining 25% interest in Alvis is not diluted in this period.
o ARC will spend an average of a minimum of US$200,000 per year on exploration drilling and resources definition on the Licences over any rolling three year period prior to FID.
o Kopore will receive a 1% net smelter royalty over the Virgo Project, capped at a maximum of US$30 million. ARC has the option to purchase the royalty for US$5 million anytime up to FID, on terms to be included in a royalty
agreement.