ANL Term Sheet for sale of Giro

When the term sheet for the sale of #ANL (OTC #BRYYF) became public, i did a lot of research into the ownership of the lease. It's all still on Twitter (lesleydewarau) and going back 2yrs or so.
in a nutshell, ANL owned a % of the company that was holding the lease. But never the actual lease itself.

The term sheet for the sale of their interest in the lease (by way of shareholders in the leaseholder) became binding when the first tranche was received, and the second tranche was paid. Both of those payments have been received.

i have the Offer Booklet in hand.
Unaudited Balance sheet for 30Jun24 shows Cash &equivalents as $14,639,415
Cash out 30Jun to 27Aug $950,542
Proforma Unmarketable buyback provisional $425,843
Proforma 1st Equal Access BuyBack (basically 10% of SOI less UMBB) provisional $880,020

After those offers, at 0.00035c per share, there has to be a s/h meeting to agree to a 2nd Equal Access BuyBack at the same price of 0.00035c Provisional $4,505,102
Assumed costs for all BuyBack $75,000
After all these BuyBack payments are calculated, the cash position is estimated to be $7,802,908.

These BuyBack offers are being funded from the payments related to the term sheet.

Following the completion of the Share buyback, the intention is to delist from the ASX and do a 1000:1 consolidation, to facilitate the settlement of distributions to shareholders subsequent to the delisting.

Apart from one investor, (Markus Meister 8.8%) SOI after the buyback and before consolidation will 10,357,376,450 - to be reduced to 10,357,376.

The Proforma balance sheet for 30Jun24 does NOT reflect the potential impact of Tranche No 3, due (probably March 25) $8m and Tranche No 4, due (probably March 26) $9m
it does show trade and other receivables of $11.3m - without any details.

Bottom line: will (7+8+9) $24m be distributed to the holders of the remaining 10.4m shares over the next two years, as the next two tranches are paid?

There are a lot of get-out-of-jail-free options in the offer booklet, mostly saying that nothing (dates, actions) are guaranteed other than the 0.00035c buyback offer.

None of this is advice. DYOR.