Chinese back on board5 Dec 2024 07:11
From telegram poster...
Having slept on it, there’s clearly a plan to get Zulu to production which with debt paid will cost around £6m and pointless having the vote if it’s not supported by Canmax. Canmax can’t take much more than 9B shares as that alone will increase their holding to just under 30%.
I can only conclude that Canmax will take a premium placing somewhere between .06p to .1p to raise £6m to take us through to production and keep some shares available for any potential unknowns. This route benefits Canmax over the OO one as it assures them of taking a larger holding rather than a percentage share increase and guarantees us the necessary funding.