All up SBL will pay upto $5 million worth to Mwana Africa and will get 70% of a $880,000,000 gold mine.
See details and pic below:
Acquisition will be by payment of 50 million Signature shares or A$1million in cash.
Consent will be required from the Ghanaian Minerals Commission prior to the transfer of ownership of the project.
A further payment of 50 million shares or A$1million in cash will be paid to Mwana upon delineation of one million ounces in the Measured & Indicated JORC Code-compliant resources.
A final payment of A$3 million in equity or cash will be paid following production of 100,000 ounces from the project.
SBL Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held