Ann: A$13.2m Sale Agreement Executed, page-4

Yeh, how dare BMV issue shares to acquire an asset. They must be the first penny stock to think of such an outlandish thing to do.
And how dare SAU accept script of up to about 30% in a company that has previously brought old mines back to life, when they themselves had no way of doing it themselves! And why on earth would they accept this script that is listed on a foreign exchange that has a history of valuing such companies higher than the asx itself. Just disgusting.

Highlights (for me) from BMW'S RNS.

'The Independent Expert derived the price of Southern Gold's 50% Joint Venture Interest to be paid by assessing the projected cash flow forecasts using a gold price of USD1,440 per oz. This was then discounted by 15% to determine a net present value of the projects and then for good measure was further reduced by 50%. The resulting number was then divided by two to determine the value of Southern Gold's 50% stake which in terms of the Joint Venture agreements was reduced further by 10%. Accordingly, the price of the Acquisition was determined to be USD9.945m (c. £7m) which is the settlement figure as announced previously on 30 November 2020.'

I dont think I've read how the expert derived the price. Interesting.

Colin Patterson, CEO, commented:

"I am pleased that we have finally waded through the lengthy legal structure and wording of the various documents and delighted that at a pre-deal market capitalization of £13 million the Company has just doubled the assets of the business for a cost of approximately £7 million.

Now that all ownership issues have been resolved and funding is in place the BMV team can move on with construction; although Covid restrictions will slow down our efforts we do have plans to start construction preparatory tasks within the next couple of months.

Rightly or wrongly, I picked up a further 200k @ 7.1 today. Time will tell if this was wise or not.