We would love to hear your thoughts about our site and services, please take our survey here.
got about double that ... c'mon
You waited for the recovery on your £70 investment of 4700 shares and sold them on the highs for 27.8p ??
Go figure the contradiction in that statement you just made @13.49
I'm out for now 17-Sep-20 13:17:07 27.892 4,766
It would be a big hit for Cornerstone to take to raise funds via ENSA as if they go just 0.01% below the 10% it would result in SOLG being able to pick up the remaining 9.99% of ENSA from the Cornerstone holding for a pittance of a price: $3.5m
No MiningPig,
They have 15% share of ENSA which means their costs are 15% to development.
I believe you are confusing the 10% with cut off for the dilution of ENSA
Should CGP dilute ENSA (sell back a percentage to SOLG as they have first refusal rights) this would enable SOLG to allocate CGP's remaining holding in ENSA (should it dilute to below 10%) to a NSR which they could then buy back for $3.5m.
Again it is in the term sheet
$2.7 Billion would be SOLG's share of the development costs (85%) the other 15% would be CGP (circa $468m) for the whole ENSA
https://sedar.com/FindCompanyDocuments.do
Search for Solgold, date 13 July 2017 - 13 July 2017
The Term Sheet is the document sized at 7464 K
I shall correct your mistakes since some dipwit put me in a bad mood.
1. Cornerstone must pay their share of 'exploration' costs up to Bankable Feasibility from the income stream when and only when production begins!
2. Cornerstone have to contribute to the development of the mine (circa $468m) to get the mine to production which will in turn pay off the aforementioned 'exploration' costs.
3. Details are in the Term Sheet filed on Sedar in July 2017 and signed February 2014.
4. The term sheet refers specifically to SOLG covering costs to Feasibility and not to production.
5. SOLG has the NSR with Franco-Nevada to cover the remaining costs to bring to Feasibility.
6. Cornerstone 'MUST" repeat "MUST" contribute to development costs going forward from the date of the Bankable Feasibility.
Please explain how a mine can be built without the need for any company to foot the bill prior to the build other than to raise finance prior?