Ann: MCB Project Mining Permit granted by Philippine Government, page-400

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daisydawg

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28/05/24

21:48

Post #: 74053100
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Originally posted by goldfan: ↑

There is a number of streaming companies trying to secure royalty on long life copper deposits... not enough producers wanting to do that... so high demand for new projects like CLA

XAM did a very interesting JV with Zinjin. There could be something similar with a producer

(CLA project a lot higher grade and can get a better premium)

Under the Strategic Partnership, Zijin invested at both the Xanadu corporate level and Kharmagtai project level through a series of transactions:
Phase 1 Placement already completed; Zijin acquired a 9.84% interest in Xanadu, with the issue of 139 million shares at A$0.04/share.
Phase 2 Placement will increase Zijin’s shareholding in Xanadu to 19.99%, with the issue of approx. 179.1 million shares at A$0.04/share (an approx. 43% premium relative to Xanadu’s share price at 19 December 2022).
Phase 3 JV (or Kharmagtai JV) will result in the parties establishing a 50:50 incorporated joint venture in Khuiten, the entity currently wholly owned by Xanadu which holds a 76.5% effective interest in the Kharmagtai project, in return for Zijin injecting US$35M into Khuiten to support the Kharmagtai PFS and associated expenditure on the project’s next phase.

Zijin’s total investment in the Strategic Partnership with Xanadu is estimated at approx. A$64 million3, of which approx. A$12.8 million will be invested in Xanadu shares and approx. A$51.5 million (US$35 million) directly into Kharmagtai.
The Kharmagtai PFS and discovery exploration have commenced. Xanadu will remain operator of the Kharmagtai JV with an 18-month plan to complete the PFS, upon which operatorship will pass to Zijin.
After the completion of the 18 month PFS, Xanadu has the option to:Fund its share of construction;Sell its 50% of the Phase 3 JV to Zijin for US$50 million; orSell half of its share of the Phase 3 JV (25%) to Zijin for US$25 million plus a loan carry for Xanadu’s remaining share of costs until commercial production.

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that’s great, but our current share price has dropped so significantly that the upside has reduced so many that frustrated holders will sell along the way

CLA Price at posting: 0.9¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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Ann: MCB Project Mining Permit granted by Philippine Government, page-400

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