DRE dreadnought resources ltd

Ann: CTN: Acquisition of Yerilgee and Evanston, page-52

  1. 5,981 Posts.
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    Hey mate.

    No such obligations for CTN, per below extracts from the Ann - it's a straight up sale/purchase, with some payables to DRE down the track, if certain milestones are hit (without any time limits).

    Main thing for DRE at this stage is adding the $250,000 to their bank account, which will go towards helping them achieve their self-funding targets.

    The other benefit for DRE is the 72.5M shares in CTN, which they can sell, but after 12 months though - by that stage DRE will be mining gold, so will probably keep their holding in CTN (assuming they're happy with how CTN is progressing) as they won't need to sell it to raise cash as they'll be swimming in it by then from the gold mining.

    The $1M payment and NSR could happen/be paid to DRE down the track, but you'd think not any time soon.

    CTN guys have all achieved decent things in the past (and as recent as discovering the Marble Bar lithium resource for GL1), but yeah, I don't know much about them and I guess we'll see how quick they are with any work at Central Yilgarn, once everything is handed over to them

    Cheers,

    GB.





    DRE - CTN Deal - 12-12-24.jpg






    CTN Board info:

    https://www.catalinaresources.com.au/about-us/board-of-directors
 
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