When are the 67m vendor shares for the related party Mt Adrah acquisition getting issued? Very soon I reckon now the meeting is done.
The vendors purchased Mt Adrah from 4CE for $280k a few months ago and in return, get a pile of FRN shares plus performance shares and options. Did FRN also get to assume the debt the vendors borrowed to buy the Mt Adrah asset that 4CE did not want? What a set up.
Lucky timing for the vendors.
Ann: DRILLING UNDERWAY AT THE FRASER RANGE PROJECT, page-15
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