"Vertex has signed a binding term sheet with Ocean Partners for a US$10 Million Gold Dore offtake prepayment facility (Prepayment Facility)"Vertex has signed a binding termsheet with Ocean Partners for a US$10MillionGold Doreofftake prepaymentfacility(Prepayment Facility) As stated this is not a loan but a prepayment and the amount of the repayQuantity:20,000troy ounces of refined, payable, LBMA goldproductionment seems to be " Quantity: 20,000 troy ounces of refined, payable, LBMA gold production"
Therefore 20,000 x UD$2320 = US$46,400,000 This an outrageous return on a us$10,000,000 investment, not to mention the 16% interest rate.
Please tell me I am wrong but I can see no other explanation
VTX Price at posting:
8.3¢ Sentiment: Hold Disclosure: Held
