No, the extension fee of $700,000 comes off the total price. It's more of an installment.
No surprises with this announcement, so we still have to question of where the $9.7m is going to come from. I don't like the idea of diluting $12.7m at the current price. That would be close to a 1-for-3 issue.
They're going to need some serious results to show the market for that to work.
Speaking of serious results, that ore sorting looks pretty good. Will be interesting to see what they assays show about how much gold it captures, but it certainly makes the DSO option look viable.
Cheers
Ann: Indee Gold Settlement Extended to July 2019, page-5
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