only $5m in cash Deferred Consideration – Deferred consideration...

only $5m in cash

Deferred Consideration – Deferred consideration is not payable until the Company has undertaken a feasibility study in respect of the project and has made a decision to mine, or earlier at the Company’s election. The Company has up to 5 years from the date of grant of the Option (DTM Period) to pay the deferred consideration. The DTM Period will be automatically extended for further periods of six months each for material delays in the Company obtaining relevant approvals for the Tenement. The amount of the deferred consideration is $50 million, payable at the Company’s discretion in the form of a minimum of $5 million in cash, and the balance in cash or Ventnor Shares (again, at the Company’s discretion) at an issue price being the lower of: (i) the 30 day VWAP on the date of payment; and (ii) 20 cents