From what the BOD have said a deal is in the pipe line (unless they are unscrupulous lying mother F*c*e*s (which would not suprise anyone). I have givern it 2 months to finalise - who would invest £250K into something unless they had solid evidence that they were going to make at least 4x their investment. on the risk reward profile. ALign (who are not very reliable) have invested a little here . I see the court case and window of opportunity and interested parties as to clear the way for a final transaction. I
I hope there are honest people about - But I doubt it anymore - Why would Align buy 9% of the companmy if they thought it was not going to work Why would people agree to £250,000 placing for the company to fail so soon after. Hopefully the courts have done this at this point so close to a supposed deal - to clear the way for this deal. Now it is clear the Velosos can sort out the UK Problem and fine of £1 million I Hope and Pray that the BOD and ALign have been telling the truth - But anyone involved in this game is usually not the most trustworthy
Let's hope we are nearly there. But in the life of PFP the wait is always long. I never quite understood why the parties would not want a deal as quick as possible - But then agaim people are effing weird.
50% FARM-IN TO CONCESSION ON PRODUCING DIAMOND MINE TO PRODUCE CASH FLOW FOR EXISTING GOLD OPERATIONS
Tectonic Gold plc (TDIM: TTAU), an Intrusive Related Gold (“IRGS”) exploration pioneer, is pleased to announce that it has executed an agreement with VAST Mineral Sands Pty Ltd (“VAST”) for a 50% economic interest (“Joint Venture”) in diamond mining concessions on the South African Government’s operating Alexkor diamond mine in the Republic of South Africa. The Directors of the Company expect that the Joint Venture will result in immediate and sustainable cash flows to support the development of the Company’s gold exploration activities in Australia.
o 10 year concession to mine alluvial diamonds
o Tectonic Gold to acquire a 50% economic interest for US$650,000 in equity priced at 2.2p per share
o Concession forms part of a South African Government owned mine that has been in operation since 1928
o Over 10 million carats recovered to date
o Currently over 50 operating concessions on the mine
o Over 500,000 carats of gem grade diamond resources in the VAST/Tectonic allocated concession areas
o Diamond resources, exploration, mining, processing and sales metrics well understood by Alexkor and operators
o VAST has an experienced operating team already on site
o Initial 900 carat per month production target from the VAST mine plan
Following the successful diamond drilling program at Specimen Hill in 2018, Tectonic Gold has entered into a Joint Venture agreement to acquire a 50% economic interest in the concessions held by VAST on an operating alluvial diamond mine. The Directors of the Company expect that the Joint Venture will generate immediate cash flows enabling Tectonic Gold to fully fund corporate costs and follow on exploration and drilling of the Company’s Australian gold portfolio.