Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Next question for me is where does COPL find the funds for the rest of the deal?
• Deposit (non-refundable): $1 million - PAID
• Initial Debt-Financed Payment: $8 million for 15% - PAID
• Assumed Debt: $26 million at closing - HOW???
• Total Additional Debt and Cash: $15 million at closing - HOW???
• COPL Common Shares to Atomic Shareholder(s): $4 million priced at closing - Dilution again, but at this stage SP should be much much higher.
Bladderman, this makes sense with the whole conversation over Art saying we need the 8m but then saying it isn't needed in the interview. If they said we need the 8m now, we can pay them, but we don't need to.
The next step is getting the remaining debt secured and then the deal is done. I do believe that we would have no options available to us until we proved that we could raise the initial 8m.
I haven't been waiting as long as some of you here, only been here for 6 months. Won't be selling anything anytime soon though. Thanks to all those who have been providing updates etc. you know who you are.