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1,984 Posts.
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25/05/07
12:05
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this is a great announcement.
highland will spend CA$8m pa for 5 years and pay Planet $2m pa for 5 yeats to earn 50% of projcect with Planet managing.
end of 5 years Higland to issue 66m shares and 10m $1 options.
Broker raising 20m @ $1 plus 10m options exercise $1.40.
As the figures stand at the end od 5 years planet will own 67% of Highland, subject to more cap raisings, so probably around 50%, for no further cost.
GOOD ONE NORM
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