Worth pointing out:
interests are aligned with the vendor. The vendor will receive DEG shares, so will have a vested interest in DEG's success. Furthermore, If DEG does some drilling and decides to excersise the option to acquire, the vendor will still have a 30% interest in the gold below 6m.
It is only an option to acquire. DEG will do some studies / drilling below 6m, and could choose to just walk if there is nothing promising at depth (well, if you call below 6m as depth). Seems like a low rish / potentially high reward strategy for DEG.
Vendor sounds like their capability to explore beyond 'backhoe' depth is just not there, so need a big brother to unlock the depth potential for them (in exchange for 70% of the prize).
Ann: Bonanza Gold Target Secured - Blue Moon Prospect, page-37
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$1.33 |
Change
-0.060(4.32%) |
Mkt cap ! $3.187B | |||
| Open | High | Low | Value | Volume |
| $1.37 | $1.37 | $1.33 | $7.825M | 5.846M |
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| No. | Vol. | Price($) |
|---|---|---|
| 5 | 106868 | $1.33 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.34 | 9711 | 1 |
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