This is a great announcement.
It clearly shows management is very keen to get to 100% ownership and is forcing the hand of the 30% holder to "put up" more capital or if he does not to "shut up" and go away. If the vendor is smart he negotiates a settlement for his 30% stake and sails off in the sunset. If he is not smart, he will just get diluted with every capital injection.
Either way, owning 100% of this project will make it much more bankable asset for M&A purposes down the line
Ann: Commencement of fully contributing JV for El Zorro Project, page-2
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Mkt cap ! $52.87M | |||
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Change
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| Last updated 13.02pm 10/05/2024 ? | |||||
| TSO (ASX) Chart |