Of the A$40 million in ‘up front’ consideration on the Mt Carlton divestment, A$26.8 million was paid in cash, with the A$13.2 million balance being satisfied by the issue of Navarre Minerals Limited 176,565,396 ordinary shares.
Based on Post #:68361304 these 176,565,396 Navarre shares may now be worthless.
The contingent (deferred) consideration on the Mt Carlton divestment of up to A$50 million could also be in doubt.
It will be interesting to see if the above is discussed in the next ASX Quarterly Report.
Cheers
These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.
Ann: Completion of Mt Carlton divestment, page-2
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