KAB 0.00% 0.1¢ kaboko mining limited

price target after trading halt, page-72

  1. 5,657 Posts.
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    Lory.
    I don't think he can answer what he doesn't know.
    I maybe able to help.

    My understanding is that AMM owned 51% and Impondo Zambia owned 49%. Both in the Impondo stable.
    ---------
    Under the Agreement the Company is required to enter
    into a formal share sale agreement with the shareholder of AAM to purchase 100% of the share capital in AAM to obtain the interest in the manganese projects held by its ......."Subsidiaries."

    the Company also has the option to increase its interest in the Zambian Manganese Project to 74% on terms to be agreed
    between the parties. (24m shares it turns out) As part of this, the Company will be granted a pre-emptive rights and first rights of refusal in relation to all of AAM’s current interests in the Zambian Manganese Projects;
    ----------
    The new undated Impondo wed site now has Impondo Zambia at 26% where as before it had 49%

    Impondo Zambia (IZ) is an independent company in Zambia in which........ "Impondo Mining Resource Consultants"
    (Pty) Ltd, a privately owned South African based company, holds a 26% shareholding.
    http://www.impondo.com/preview/Partnerships.html

    Don't ask me know this now adds up to 75%
    -------
    So all pretty sweet for Impondo.

    (A) 80,000,000 Shares upon completion of the Acquisition;

    (B) 80,000,000 Shares with 80,000,000 free attaching
    Options on the date the Zambian Manganese Projects
    achieve a minimum of 10,000,000 tonnes of JORC (or
    equivalent) manganese resource within 18 months from
    the execution of the Share Sale Agreement; and

    (C) 80,000,000 Shares with 80,000,000 free attaching
    Options on the date the Zambian Manganese Projects
    achieve a minimum manganese production of 30,000
    tonnes per month of JORC (or equivalent) Saleable
    Manganese Ore for at least 3 months within any 6
    month period, provided that it is achieved within 30
    months from the execution of the Share Sale
    Agreement,

    (together, the Consideration Securities); and
    (iii) the Company will pay a $1 per tonne royalty to local partners as identified by AAM.

    And.....
    24M more share for Impondo Zambia for another 23% (Who Impondo consult. lol)
    ---------
    By the way, old URA holders.
    Guess who the "Competent Person" was that reviewed and passed this deal.
    Non other then your favorite person. Ms Kate Hobbs (1.4)
    ---------
    the Company, Crown Mercantile Limited (the sole shareholder
    of AAM)(Crown Mercantile), and AAM executing the Share Sale
    Agreement;
    ---------
    I am personally very excited about this bit.

    prior to any new acquisitions of manganese projects in Africa sourced by AAM, its advisers, Impondo Mining Limited or Okap Ventures, the Company will be consulted and given the opportunity to participate in any new acquisitions;

    Can't wait to see the new and exciting projects.

    See more old announcements.
    http://news.iguana2.com/thebull/ASX/KAB/553066

    Hope that helps Lory. It can be a hard treasure map to follow.

 
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