mate your a flog - what 15 to 20 mill are you taking about?
its a average deal from an average company - I cant help wonder what money was dropped into this little Columbian adventure.
$1m for effectively a 2 year option subject to conditions being satisfied - no idea what they are
up to 2 years for Tiger to list with no obligation to pay anything until then
If it proves up they can pay $9m to take ownership and all the upside
If they are unsure they can force us to take an equivalent to $8.5m in shares and pay $500,000 for the privilege - and I hope the $500,000 is paid before we get our $8.5m shares i.e. is not a debt of the company we will own.
And if it doesn't prove up they can walk away for $1m
So all the risk is LCLs and all the options are Tigers. Smart deal ....for Tiger
LCL Price at posting:
1.0¢ Sentiment: None Disclosure: Held
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