You got to be kidding...........a $750,000 mistake!!!
Although full details of the settlement are withheld (why?) it appears that $750k of the convertible notes drawdown is to be paid to LN metals. So it has nothing to do with Jason's good work just the amount of cash for nothing that LN metals were going to screw us for. Only good decision was to avoid taking it to court, although there might have been a slight possibility that PRH might have got out of the agreement if it could be fought under Australian court jurisdiction. However, incompetence is not a defence!
All subject to settlement of the Trilogy sale and approval of shareholders!
Although obviously nice to have it clarified, how Jason got PRH logjamed into this costly "unconditional" off-take agreement in the first place is a concern! Doubt if there will be a job for him at SLR.
PRH Price at posting:
1.8¢ Sentiment: Hold Disclosure: Held
