Ann: Update of Wailoaloa Developments, page-46

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ddzx

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23/02/18

11:15

Post #: 31284661
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Originally posted by sle ↑

And SXX are about to get a huge cash injection!
Do you think the DTR re:negotiated terms released recently is bad?
Yes they will need cash to get the project up and running. Will SXX help with this who knows. But to me if seems that DTR/SXX have a half reasonable gold project which the previous owners are quite happy to put their money in DTR via shares. Is DTR a better buy than SXX at this stage imo no! One will assume that the project will be traveling quite nicely once the final payments are required by DTR to the previous owners. Both stocks have risk and as usual pdyor.

From the release:

Commentary Collectively, the above transactions deliver to Dateline freehold ownership of all the freehold land, the rights to all the minerals, and ownership of two permitted mills in Colorado and eliminates all short-term cash payments. Cash liabilities of US$34m have been reduced to US$5m in deferred and contingent payments to each vendor. A total of 88m new shares will be issued to the vendors and an Appendix 3B lodged with the Australia Securities Exchange shortly. The balance of 2m shares and 10 million options, require shareholder approval due to exceeding Dateline’s current maximum placement capacity. This approval will be sought at the Company’s next General Meeting of shareholders.

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you seem to making some unproven assumptions here. the vendors swapped US$24M in debt for AUD$1.9M in shares. i think it is reasonable to ask seriously how AUD$30M in debt was exchanged for AUD$2M in shares??? 93% discount

SXX Price at posting: 1.1¢ Sentiment: None Disclosure: Not Held
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Ann: Update of Wailoaloa Developments, page-46

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Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

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