RE: Redmoor28 May 2018 13:09
FUNDING ARRANGEMENTS
In order that drilling can commence in June 2018, NAE�s Joint Venture Partner, Strategic Minerals Plc have
provided CRL with a �332,000 loan and has also underwritten a placement of shares in CRL of �664,000, to occur
on 3 September 2018.
NAE has until the 31 August 2018 to fund its �332,000 share of the placement to retain its 50% interest in CRL,
which is the Company�s intention. If NAE does not take up the placement by 3 September 2018, then NAE�s
ownership would be diluted to 40% and Strategic Minerals Plc would increase its ownership to 60% of CRL,
although all decision making would remain on a 50:50 basis.
So drilling will start in June and then NAE will decide if they they want to repay the loan 3 months into the drilling...!
I am assuming the crew drilling the hole would have an early indication of the possible results
Am i reading this correctly ?