My understanding is:
They will IPO 70% of the Cosmo project for a minimum of $4m
The remaining 30% is retained by DDD, with this 30% being distributed to DDD shareholders in the form of "COSMO" shares. I assume this would be pro rata based on how many shares you own as a percentage of total DDD shares.
They can't give us a solid number until they know how popular the raise is, if it is very popular then the amount DDD receives will be above $4m and us as shareholders will be given COSMO shares which are worth more.
I think its a great deal. We can use the cash in Adelong, we dont have to dilute the DDD register, and we get a piece of the new Cosmo IPO.
My understanding is:They will IPO 70% of the Cosmo project for a...
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