MGU 7.69% 1.4¢ magnum mining and exploration limited

Ann: Sale of Gravolette Project, South Africa, page-6

  1. 493 Posts.
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    They had been flagging this sale for months, it was mentioned in at least a couple announcements that I recall, so no surprises here. I just find the wording of clause A and B of the consideration a bit odd in that they appear to say the exact same thing, also the consideration seems to be quite small and there’s no upfront cash payment; so other than the shares in the buyer, Magnum only get paid if any production happens. I know very little about the Gravelotte project to understand it’s worth, maybe longer term holders here do though.
 
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