The toll treatment term sheet signed with blue cap last month was binding. While the formal execution as not taken place yet (to my knowledge), the agreement provides Blue Cap the option to purchase 20m shares at 2.5c.
If Blue Cap has been the entity buying, that would leave them with a considerable stake.
Per James in the video, Blue Cap wants to be involved in the entire project. I would not be concerned if this announcement relates to a placement with Blue Cap.
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The toll treatment term sheet signed with blue cap last month...
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