By my understanding, we've agreed to a settlement that results in a convertible note for 15% of the holding company that (may or may not ever mine the site) and an option for 7.5% all when the company is floated whenever or where ever they do it.
We have then agreed to sell that to a different company for US$80 Million. So in effect we have settled for US$80 Million.
Is that everyone else read on that? I had to read the announcement a couple of times.
Basically doubles the companies cash holdings and puts this pretty sad chapter behind us.
settlement
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Last
30.5¢ |
Change
0.005(1.67%) |
Mkt cap ! $174.7M | |||
| Open | High | Low | Value | Volume |
| 30.5¢ | 31.5¢ | 30.0¢ | $170.7K | 556.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 108875 | 30.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 31.0¢ | 10000 | 1 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| A1M (ASX) Chart |