CR for exploration may not be a problem, however $2m required for youanmi Gold is not just $2m cash, it requires a concrete plan to move the project forward. There is no disclosed discussions with other parties to partner with.
“Company paid $100,000 cash as option fee to purchase all the issued shares in Oz Youanmi Gold Pty Ltd which owns the mining leases for the gold mine on and before 30 June 2019. Upon exercising the option, the Company has the choice of paying $5M (less option fee paid and reimbursement of rent paid in relation to the tenements up to an aggregate of $100,000) in a combination of cash ($2m less option fee and rent paid) and shares ($3M in shares) or cash. It also has the right to assign the option. A Net Smelter Royalty of 0.5% is payable on the gold sold if the gold price is above US$900 per troy ounce.”
VMC Price at posting:
15.0¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)