At the risk of being jumped on again by a frequent, very frequent, poster here who doesn't read much, I want to question the chances we have for Oz Minerals or BHP to part with the $20 million Contingent Consideration. Here we have a change of control over the whole company, not a sale of a particular asset by Oz. So, for me, at the moment, I can't get away from thinking that there's little chance of CPN getting the $20m on board. Hope I'm wrong.
Here's the quote
As part of the transaction, Caspin will hold the right to receive a potential payment by OZ Minerals in two potential scenarios up to an aggregate cap of A$20 million (Contingent Consideration). In the first scenario, if OZ Minerals disposes of 30% or more of its interest in the West Musgrave Project to a third party and the sale price implies a value for 30% of West Musgrave equal to or greater than A$76 million (Implied Value), OZ Minerals will pay Caspin Contingent Consideration of A$10 million, plus up to a further A$10 million (payable at a rate of A$0.20 for each dollar of value exceeding the Implied Value). If OZ Minerals sells less than a 30% interest, the Contingent Consideration shall be calculated on a pro-rata basis (i.e. if 15% is sold, the Contingent Consideration will be 50% of the amount payable for a sale of 30% or more). In the second scenario, if OZ Minerals sells 30% or more of the contained nickel at West Musgrave to a strategic party, it will pay an amount of A$10 million to Caspin. If OZ Minerals sells less than 30% of the contained nickel, the Contingent Consideration shall be calculated based on a pro-rata basis (i.e. if 15% is sold, the Contingent Consideration will be 50% of the A$10 million).
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Open | High | Low | Value | Volume |
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1 | 46006 | 5.5¢ |
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Price($) | Vol. | No. |
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5.9¢ | 30333 | 1 |
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1 | 18518 | 0.054 |
1 | 150000 | 0.053 |
2 | 119607 | 0.051 |
1 | 50000 | 0.045 |
Price($) | Vol. | No. |
---|---|---|
0.059 | 30333 | 1 |
0.060 | 5400 | 1 |
0.064 | 2550 | 1 |
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0.075 | 89773 | 1 |
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