Ann: Sale of Gilded Rose Gold Project for $4M Consideration, page-7

IMO If we pull this off Mt Freda will start to ramp up after the 30 June. This not far away, we may not see a lot of movement in price till after this date.


o$100,000 non-refundable option fee.
o$1,400,000 due on completion, targeted by 30 June 2020

The rest can wait, in the mean time PNN have the following to complete

Completion of the Acquisition is subject to a number of conditions, including completion of due diligence to the satisfaction of PNN before 21 May 2020 subject to any delay caused by Covid-19, shareholder approval for the share component of the consideration, completion of a capital raising of $2 million (also subject to shareholder approval) as well as the negotiation and execution of formal transaction documents.

Guess time will tell, all we can do is wait, we have done a lot of that over the last 12 months.


All the best


FireflyOne