re: Ann: Divestment of Heemskirk Tin Project ... 43.528m shares in SRZ equate to c. A$4.18m at current SP of 9.6c. Bit better than the $0.8m on offer in the previous directors deal!
If SRZ shareholder approve then there will be 152.35m SRZ shares in issue and GIP's holding will equate to 28.57%.
As their JV share was due to fall to 30% and they would also have had to dual fund further progress, this looks to be a reasonable deal.
SRZ still have much to do to develop Heemskirk and there is bound to be dilution along the way. But at least they can now have a clearer hand in arranging finance for a wholly-owned project.
Probably the best solution for all stakeholders IMO.
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