Have a read of the following. The vendors must be confident about JORC size in both projects to agree on the terms listed below. Either way this agreement favours us shareholders and doesnt line the pockets of the vendors and directors at all.
(vi) The Vendors Shares, United Shares and Mainstar Shares will only be released from voluntary escrow upon confirmation of the potash resources in Zhilyanskoe to be no less than 1 billion tonnes in accordance with JORC standards and, if the resources of Zhilyanskoe are less than 1 billion tonnes, then the shares to be released from escrow to the Vendors, United and Mainstar will be reduced in proportion to the confirmed resources.
(vii) The Celaric Shares will only be released from voluntary escrow upon confirmation of the potash resources in Chelkar to be no less than 1 billion tonnes in accordance with JORC standards and, if the resources of Chelkar are less than 1 billion tonnes, then the shares to be released from escrow to Celaric will be reduced in proportion to the confirmed resources.
FMJ Price at posting:
$1.00 Sentiment: ST Buy Disclosure: Held