Ann: Binding Agreement to Settle Cosmo Gold Loan, page-4

looks like a win for Foley. 25% free carry on his main tenement

So many payments outstanding and yet over $1.6m debt???

Sarama (via its subsidiary) to acquire 80% of Cosmo’s interest in the Project for the following consideration
and payment of certain Project-related expenses on behalf of Cosmo:
o issuance of 25 million shares in Sarama (in the form of Chess Depository Instruments (“CDI”)) to Adelong;
o issuance of 7.5 million unlisted options to acquire shares in Sarama (in the form of CDIs) to Adelong (2-year
expiry, A$0.05/option strike price, converting on 1:1 basis);
o payment of A$50,000 to Cosmo within 21 days of execution of the SPA;
o payment of A$50,000 to Cosmo upon Sarama receiving shareholder approval for the transaction;
o payments relating to Native Title Access Agreements totalling approximately A$112,000;
o payments relating to statutory tenement fees totalling approximately A$76,000; and
o payments relating to exploration activities totalling approximately A$139,000

You should DYOR IMO