BCN 2.22% 2.2¢ beacon minerals limited

Ann: Letter to Shareholders, page-88

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 283 Posts.
    lightbulb Created with Sketch. 525
    Can anyone clarify the clauses in the Lady Ida announcement from 6th December 2023? They seem to contradict each other.

    The first circled part says that the Company will acquire a further 25% (50% total) after they've produce 36,250oz, meaning that they would've received 25% of profits for the first 36,250oz. But then the bottom couple dot points say that BCN get 50% of proceeds from sales until 72,500oz have been recovered. Which is right?

    The second last dot point also seems to agree with the last dot point where it says they share costs 50:50 after the first milestone (first gold is produced) and those costs come out of their 50% share of gold.

    Am I reading this wrong or does the announcement contradict itself?
    https://hotcopper.com.au/data/attachments/6307/6307380-0fedbfddd3f1efbcfa0eedffa541a829.jpg
 
watchlist Created with Sketch. Add BCN (ASX) to my watchlist
(20min delay)
Last
2.2¢
Change
-0.001(2.22%)
Mkt cap ! $82.64M
Open High Low Value Volume
2.2¢ 2.2¢ 2.2¢ $1.1K 50K

Buyers (Bids)

No. Vol. Price($)
13 4347272 2.2¢
 

Sellers (Offers)

Price($) Vol. No.
2.3¢ 1129120 6
View Market Depth
Last trade - 15.14pm 04/10/2024 (20 minute delay) ?
BCN (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.