At the date of the agreement with Lion Gold, 2nd June 2012, RAU would receive US$750k as a loan at 8.5% interest and to be part of the US$7m purchase of Amayapampa, providing due diligence is satisfactorily completed.
The share price of Lion Gold stood at S$1.0039 on 1st June 2012 - agreed price for US$6.25m - and closed on 31st August 2012 at S$1.245.
RAU took out a further loan from Lion Gold of US$350k.
Exchange rates also come into this and loans of US1,150k plus about interest to mid-September of US$1,200,000.
Lion Gold shares at S$1.245 is an increase of 24% since the agreement on 2nd June 2012.
If due diligence is completed on 17th September 2012 then RAU would receive shares in Lion Gold worth about US$7.2m (S$1.245)after payment of loans plus interest. [exchange rates taken as those standing at 2nd June 2012]
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