Ann: GBM Executes Agreement to Acquire Twin Hills Gold Project, page-2

Wow - thats quite a condition there!

iii. GBM completing a debt or equity capital raising of at least A$7 million (representing the estimated Stage 1 funding required for the re-development of Mt Coolon); and

I wonder why Minjar or GBM would insist on a condition like that?

Is it a "get out" clause for GBM's benefit, or Minjar just trying to ensure that GBM have adequate cash to do something with Twin Hills? I see there is a $1M enviro bond to be transferred so that business as normal.

I'm always fascinated by JV or purchase & sales agreements that specify where parties get their money from....

Transaction price seems alright though, neither ridiculously high nor low, certainly adds some possible ounces to a potential GBZ operation