No.
JV Company is defined us (70% Tesoro Mining Chile/30% Vendor).
TSO is the parent company of Tesoro Mining Chile. Share holders meeting on 11/2/2021 developed the 12 month working budget of $7.6 Mil. Which Tesoro Mining Chile must contribute 70% of $7.6 Mil for the development of the project. Vendor contributes 30% of it otherwise they get their ownership diluted. TSO (parent company) holds all the cash and will contribute and provide funds to Tesoro Mining Chile. I think overall we will easily spend more then the $7.6 Mil, but, understand that this would have been negotiated and the vendor isn't stupid. If it was at say $20 Mil for 12 months and the vendor didn't have the money, they lose most the ownership.... People are NOT THAT STUPID....
- Forums
- ASX - By Stock
- Ann: General Security Agreement
FM3
firstmac mortgage funding trust no. 4 series 1-2020
No. JV Company is defined us (70% Tesoro Mining Chile/30%...
-
- There are more pages in this discussion • 611 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FM3 (ASX) to my watchlist
|
|||||
Last
0.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $0 |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |