The key commercial terms of the agreement are:
1. Rox will acquire 100% of the Mt Fisher project for a consideration of twenty million (20,000,000) fully
paid ordinary Rox Shares issued to Avoca.
2. Additional Rox shares will be issued to Avoca if the following milestones are met:
a) Twenty million (20,000,000) fully paid ordinary shares if a JORC Resource greater than two
hundred and fifty thousand (250,000) ounces of gold at a 0.8g/t cut-off is identified; and
b) Ten million (10,000,000) fully paid ordinary shares if a JORC Resource greater than one million
(1,000,000) ounces of gold at a 0.8g/t cut-off is identified.
3. The offer is subject to a 30 days Due Diligence period.
Shareholder approval will be required to issue the shares to Avoca and will be sought immediately the
due diligence is successfully completed.
- ENDS ?
So up to 50 million shares could be issued. My question is, would Avaco prefer Rox sp to increase signficantly before they receive their shares?
if, say, 30c a share @ up to 50 million shares issued = $15 million worth. Avaco could immediately dump half (or all) that, even if sp dropped 20c - 25c they would make a considerable sum (+ tax deduction for "loss"?).
??
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15.5¢ |
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Mkt cap ! $63.12M |
Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
---|---|---|
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Price($) | Vol. | No. |
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15.5¢ | 100439 | 3 |
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3 | 91896 | 0.145 |
6 | 421765 | 0.140 |
7 | 215673 | 0.135 |
8 | 858363 | 0.130 |
4 | 185334 | 0.125 |
Price($) | Vol. | No. |
---|---|---|
0.155 | 100439 | 3 |
0.160 | 161970 | 5 |
0.165 | 75632 | 4 |
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