Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Yup the market will wise up eventually.
Ok thanks
Last Sunday was very positive by these guys.
I’ve just added a few but could only deal small amounts
This Sunday. Tweet says company are coming on.
Is that this coming Sunday?
Or is that the one last Sunday
?
Thanks
Here ya go, podcast on Sunday. Sunday Roast guys taking questions from us plebs? https://twitter.com/waren_buffett/status/1465610641440481283?s=21
It's for the company to confirm re climbdown. They may well have decided to focus on KV first, sell it then focus on the remainder of the portfolio. Hutchinson and Mair have jumped over and Darivas has an advisory capacity so seems they're firmly in bed together, why integrate that much if it's only for one asset.
80% of the asset.
this is still a bit of a climb down from the original proposal which was to rto ngm into mila which would have given the rto'ed entity all of ngm's assets.....
and the initial consideration loan elements had effective conversion prices of 1.94p and 1.8p effectviely, so it wouldnt be surprising unless they have a lock in condition to see some of the sales recently could be from those entities who owned the original loan agreements.....
l.
They are effectively paying £7.5m for a £15m asset. Nice work when you can get it!!!
Yup so basically additional shares issued at 2.4p. They’ll need to spend £1.5m on exploration for the third tranche which should be a given as the fundraise was for the exploration programme. A cash call most likely if they decide to expand the resource from 280k to say 500k as otherwise can’t see it being worth the hassle for the neighbours to buy them out.
Ok found it on their website
The Company has subsequently entered into a conditional agreement (the “Acquisition Agreement”) to acquire an initial 30% interest in the Kathleen Valley gold project (“Kathleen Valley Project” or the “Project”) and the exploration licence E36/876 in the Kathleen Valley (“Kathleen Valley Licence”) from Trans Pacific Energy Group Pty Ltd (“TPE”), a wholly owned subsidiary of NGM, for consideration of £2,812,500 by way of issuing 83,543,197 new Ordinary Shares at a price of £0.024 per Ordinary Share in the Company (the “Initial Consideration Shares”) to TPE, £300,000 in cash consideration, by allotting and issuing 15,448,370 new Ordinary Shares to Diversified Minerals Pty Ltd (“DM”) pursuant to the DM Loan Agreement, and by novating the £229,393 Series 3 Loan Notes from NGM to the Company which will convert to 12,744,032 new Ordinary Shares on Readmission. On Readmission, the Company will list the Initial Consideration Shares and the Ordinary Shares issued pursuant to the Series 3 Loan Notes and the DM Loan Agreement.
7
Post-Readmission, and conditional on the successful completion of 11,000 metres drilling at Kathleen Valley, the Company will have a right to purchase a further 25% interest in the Kathleen Valley Project and the Kathleen Valley Licence from TPE for consideration of £2,343,750 by way of issuing 97,656,750 new Ordinary Shares at a price of £0.024 per Ordinary Share in the Company (the “Second Consideration Shares”) to TPE. The Company will then seek to list the Second Consideration Shares. Finally, and conditional on a second spend by the Company of not less than £1,500,000, the Company will have a right to acquire the remaining 25% interest in the Kathleen Valley Project and Kathleen Valley Licence from TPE for consideration of £2,343,750 by way of issuing 97,656,750 new Ordinary Shares in the Company at a price of £0.024 per Ordinary Share (the “Third Consideration Shares”) to TPE. On completion of the allotment, the Company will also seek to list the Third Consideration Shares. There is no guarantee that the Company will issue the Second Consideration Shares and/or the Third Consideration Shares, as they are dependent on the aforementioned conditions being met in relation to the Project and pursuant to the Acquisition Agreement.
The Company will seek readmission to the Standard List of the London Stock Exchange and has conditionally raised £3,500,000 pursuant to a Placing and Subscription to undertake a comprehensive exploration and drilling programme at the Project and for further working capital purposes. The Company, NGM, TPE, and Diversified Minerals entered into a convertible loan of A$500,000 in February 2021 to fund a drilling programme that is already underway.
Following Readmission, the Company will undertake exploration and drilling of the current and new targets that have been identified and prepare an updated JORC compliant mineral resource. The Project is located in the Wilun
Can you point me to these ?
Apologies if I missed this important point .
I take it you’ve not read the terms of the deal then and talking from a position of ignorance…
By issuing more shares to NGM
I think there will be another cash call
Initial investment in 30% of asset , that means Co intends to buy the rest or more later
So mcap laughable.No need for placings anymore.Drill a few holes and prove up then sell for tens of millions.
Sounds easy .Time to add
37:50
https://audioboom.com/posts/7987132-the-sunday-roast-with-louis-coetzee-non-executive-chairman-of-mast-energy-developments Other companies mentioned (in no particular order)
#KIBO #CMRS #BEN #BZT #XTR #CHLL #HZM #NCYT #ODX #MHC #SNG #MILA #XTR