RE: Confused3 Jan 2020 02:55
The Transaction requires Pembridge to pay Capstone as follows:
US$5 million within 60 days of reaching commercial production;
US$5 million within 90 days, following two consecutive quarters of commercial production in which the average London Metals Exchange Cash Copper Bid Price ("Average LME Price") is greater than US$3.00 per pound within the three years following commercial production; and
US$10 million, within 90 days following two consecutive quarters of commercial production in which the Average LME Price is greater than US$3.50 per pound within the three years following commercial production.