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Ann: Quarterly Activities Report - March 2016-TRY.AX, page-18

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Justis

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28/04/16

17:16

Post #: 17623559
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Originally posted by riverred ↑

Hi goldbear & justis. Been meaning to ask for a while but keep forgetting to do that by the time I had logged into HC and read the latest TRY posts. Could you please let me know your interpretation of the following:

"...the Company grants Austral an option to acquire the remaining 30% over a three year period commencing in December 2018 for a total consideration of US$7 million."

Seems to be an odd way of saying that the remaining 30% may be acquired for US$7M.
At first few readings, I had interpreted it as being the total sale proceeds adding up to US$7M for 100% of the mine.

Thanking you in advance. Cheers.

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Mate, we discussed this at the time and there was some confusion between what Austral announced and what TRY announced.

Total consideration is $11m being $3m for 51% then $1m for 19% and $7m for the remaining 30% but that could be more if the POS is up

TRY Price at posting: 58.5¢ Sentiment: Buy Disclosure: Held
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