Share
2,816 Posts.
lightbulb Created with Sketch. 600
clock Created with Sketch. 13/01/22
15:40
Share
Originally posted by Token83:
↑
hi CW,i was thinking about this, and re-read the Manna Deal with GL1.so today our ~ 10M shares in GL1 reflect a bit over 5% substantial holding. { half of the 13M$upfront payment )and additional 20M$ To come. Depending on resource and the intial production target so now everyone correct me if I’m wrong:however I was recalling a 20% remainder in the lithium interest. So GL1 gets something in between 50-80% of the actual lithium in the ground. does this mean - that we still own 20% of the entire defined resource that is now Drilles and researched at 0 cost to us?so as an example, the overall lithium there might be worth 1billion$. $ ( just an example right ) that would give us ownership of an additional 200M$ 20% as we only gave away 80% right now which mean we are still a lithium player. Especially what happens if GL1 gets taken over, yea we get our 5% shares payed off but we might maintain the 20% worth of LI resource. or spin it off at an premium. In case of GL1 take over - if GL1 produces every dollar sales revenue from L1 should bring 20 cents into our pockets … or how can I picture the 20% remainder in the lithium resource , which means we are still a LI player, just don’t do anything for it then wait…. Can someone clarify?
Expand
the answer is yes. If Manna is a 1B deposit we get 20% and we do not have any cost associated “free Carried interest” on top we have 10M shares which means a sort of double dip if Manna work out to be good and also exposure to GL1 other assets project namely marble bar. On top we have 20M in cash associated to certain milestones which can be achieved in CY22. Hope this clarifies
