It looks like TYX has given in and issued a total of 14% of the company to CIO to settle the dispute.
They can now issue shares to acquire Goodsprings Cobalt without having to further issue more to CIO.
They now need to hand over $1.35m in cash to CIO to own the Eureka Project outright.
In the end it only cost an extra 9m shares to get rid of the dispute, which means the company can move forward and complete both the Eureka and Goodspring deals.
Hopefully we will hear what is going on with the WPG jv soon also.
I reckon TYX will soon release a presentation outlining plans for the near future, followed by a rights issue.
Ann: Appendix 3B, page-2
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Mkt cap ! $16.43M | |||
| Open | High | Low | Value | Volume |
| 0.5¢ | 0.5¢ | 0.4¢ | $10.2K | 2.05M |
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| No. | Vol. | Price($) |
|---|---|---|
| 18 | 10338476 | 0.4¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 11216292 | 22 |
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