Tiger555 - "Under the terms of the Agreement, ERM will sole fund
$2.0 million within 3 years of execution to earn a 51% equityits equity to 75%."
position, following which it can elect to sole fund a further
$2.0 million over an additional 3 year period to increase
"Evolution to sole fund A$15m of exploration over 3 years for a 65% interest in
the TCMF.further A$10m over two years."
o Evolution can earn an additional 10% interest in the TCMF by spending a
So ERM will have 35% of 51% (17.85%) and then probably 25% of 75% (18.75%) for spending nothing.
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1 | 16800 | 0.059 |
1 | 200000 | 0.058 |
1 | 17200 | 0.057 |
3 | 136850 | 0.054 |
Price($) | Vol. | No. |
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0.063 | 50000 | 1 |
0.064 | 100000 | 1 |
0.066 | 14796 | 1 |
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