That is not disputed at all. However, the activities do not cease after the earn-in ends.
According to reference item 11-1: unanimous vote is required where "expenditure or liability occurs outside an approved program."
The drilling program was approved.
3.5a - BPL does not have to contribute to approved programmes during the earn in period
The earn in period is over, so now they need to pay.
Nowhere does it say approved programmes need to be voted on again with unanimous approval.
The only thing requiring a unanimous vote from here is the scope and standard of the BFS.
But:
3.3 b i- Under stage 3 , to achieve 85%, there was a minimum requirement of 5 million spend on exploration drilling. This has been approved by BOTH parties.
3.3 b ii- The other condition is that they successfully complete a BFS.
So the current drilling and BFS are considered separate entities.
BPL will be diluted.
- Forums
- ASX - By Stock
- COB
- Ann: Thackaringa Joint Venture Update
Ann: Thackaringa Joint Venture Update, page-30
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add COB (ASX) to my watchlist
|
|||||
Last
6.8¢ |
Change
-0.002(2.86%) |
Mkt cap ! $28.72M |
Open | High | Low | Value | Volume |
6.9¢ | 6.9¢ | 6.8¢ | $44.83K | 653.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 59856 | 6.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
6.9¢ | 103638 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 59856 | 0.068 |
2 | 300000 | 0.066 |
1 | 8000 | 0.065 |
3 | 362500 | 0.064 |
3 | 80000 | 0.063 |
Price($) | Vol. | No. |
---|---|---|
0.069 | 103638 | 4 |
0.070 | 49999 | 2 |
0.071 | 392957 | 1 |
0.075 | 4396 | 2 |
0.076 | 42616 | 3 |
Last trade - 12.44pm 15/08/2024 (20 minute delay) ? |
Featured News
COB (ASX) Chart |
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO & Managing Director
Charles Armstrong
CEO & Managing Director
SPONSORED BY The Market Online