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1.79% 5.7¢ xanadu mines ltd

Nice.Phase 2 placement - $7.2M for exploration of Red Mountain...

  1. blakesley
    294 Posts.
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    21/12/22
    09:05
    Post #: 65393891
    Nice.

    Phase 2 placement - $7.2M for exploration of Red Mountain project, new project exploration in southern Mongolia.
    Phase 3 placement - $35M for 50:50 JV for Kharmagtai. TBC but I think this should get us through to FID.

    Put options for XAM to manage exposure to funding, with Option 2 being interesting. $25M cash which leaves us with (I believe) 18.75% of the overall project. Loan for construction costs from Zijin.

    Hopefully the share price responds today.
    XAM Price at posting: 2.8¢ Sentiment: Hold Disclosure: Held
    Likes Created with Sketch. 12  Upvote
    lightbulb Created with Sketch.  Great analysis
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