RE: Ufo19 Nov 2019 08:52
Alien Metals Limited (UFO) NPV
------------------LOTS OF COST with NO PRODUCTION
Sell:0.17p Buy:0.19p 0.03p (12.82%) DOWN she goes
Transaction Terms
As previously reported on 20 September 2019, the consideration for acquiring the 51% interest in the aforementioned projects shall be as follows:
· 200,000,000 UFO shares issued at a Deemed Issue Price of 0.11p;
· 66,666,666 share purchase warrants, exercisable at an 80% premium to the Deemed Issue Price;
· £100,000 payable 12 months from Completion of the acquisition;
· 100,000,000 performance shares, to be issued at the Deemed Issue Price in two tranches upon achievement of the following performance hurdles:
o 10,000,000 tonne JORC inferred resource at greater than 54% Fe (Hurdle 1); and
o 20,000,0000 tonne JORC inferred resource at greater than 54% Fe (Hurdle 2).
Following the exercise of the option, Alien will be required to maintain the licenses in good standing and sole-fund the first two years of minimum commitments, estimated at A$45,000; thereafter, the parties will fund pro-rata to their respective interests.