RE: Cottesloe license renewal5 Jul 2021 21:16
Found it for myself- the license has not been renewed or transferred to wsbn according to the register-is this the reason we dropped so dramatically-if you want to check you register for the MTO register at https://forms.dmp.wa.gov.au/lfserver/anonymous/Client_Registration
and search Tenement ID: E 45/4543
The Cottesloe Project:
The Cottesloe Project is located around 55 km south of Newcrest Mining's Telfer Gold Mine and about 35 km south east of Wishbone's Red Setter Project in the Patersons Range province of Western Australia. Cottesloe consists of one granted exploration license E45/4543 and is considered highly prospective for precious and base metals.
Further details on the prospectivity of these tenements and the future exploration plans will be advised to the market in due course.
Figure 1: Cottesloe Project Location Plan - Patersons Range Western Australia - click above link to view
Transaction details:
Wishbone has signed an exclusive option to acquire the Patersons Range Project and has agreed to issue Alta Zinc Limited 600,000 new ordinary Wishbone shares, at a deemed issue price of 14 pence per share equating to ÂŁ84,000, in consideration for the option. The Option Term means the period until the approval of the extension of term of E45/4543 which is due for renewal by 30 June 2021. Assuming that Wishbone proceeds to acquire the projects, Wishbone will pay the vendors a cash payment of ÂŁ35,000 to Mining Equities Pty Ltd and issue Mining Equities Pty Ltd 600,000 new ordinary Wishbone shares and Mr. David Lenigas 300,000 new ordinary Wishbone shares. These 900,000 new ordinary shares (Acquisition Shares) at a deemed issue price of 14p equate to ÂŁ126,000. This gives a total consideration in shares and cash of ÂŁ245,000. In addition, Wishbone will issue an aggregate of 600,000 warrants (Acquisition Warrants) (being 400,000 warrants to Mining Equities Pty Ltd and 200,000 warrants to Mr. David Lenigas) to subscribe for one new ordinary share in the capital of the Company. The Acquisition Warrants will be exercisable for a period of 24 months from admission of the Acquisition Shares at the price of 14 pence per ordinary share.
https://www.londonstockexchange.com/news-article/WSBN/high-grade-silver-acquisition-in-patersons-range/14885925
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