Yes, You are correct. Dug deeper and found this:Activities...

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    Yes, You are correct. Dug deeper and found this:

    Activities Report for the Period Ending 31 December 2019

    Kitumba Sale

    AIC predecessor company Intrepid Mines Limited completed a share sale agreement with Consolidated Mining and Investments Ltd (company no. 07330453) (“CMI”) in respect of the sale of 100% of the share capital in Intrepid Mines Zambia Limited on 14 February 2019 (“Kitumba Sale Agreement”). Further details regarding the Kitumba Sale Agreement are contained in the Notice of Extraordinary General Meeting released to the ASX by Intrepid Mines Limited on 18 October 2018. The Company announced on 22 November 2019 that the parties had agreed to the following variations to the payment arrangements under the Kitumba Sale Agreement:   Payment of the deferred consideration of US$4,500,000 owing to AIC be made over three payments:
    o US$1,000,000 payment by 30 November 2019
    o US$1,500,000 payment by 31 December 2019
    o US$2,000,000 payment by 31 January 2020
    The outstanding amount of the deferred consideration will continue to accrue interest for the benefit of AIC at an increased rate of 15% pa (previously 12.5% pa). Vulcan failed to make the payments due by 30 November 2019 and 31 December 2019. AIC is considering all possible actions to recover the deferred consideration including steps to seek the winding‐up of Consolidated Mining and Investments Ltd.

    Would be handy to have Kitumba back in the stable IMO. Would be worth a lot in the present copper climate. They probably can't comment until the proceeding are completed.....
 
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Last
33.0¢
Change
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Mkt cap ! $189.9M
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No. Vol. Price($)
1 5882 34.0¢
 

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Price($) Vol. No.
30.5¢ 42316 2
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