I will have that other one taken down as I had an error with text, here it is corrected:-
In October 13 a non binding agreement was reached:-
“The Company and BlackRock will shortly begin to work on the heads of terms for the Proposed Transaction, followed by negotiation and signing of definitive legal documentation. The Company will grant BlackRock a period of exclusivity to conduct due diligence to its satisfaction and agree tax and legal structure of the Proposed Transaction”
Today they have signed the binding agreement, following the due diligence:-
The Company is pleased to announce execution of a binding agreement with
Black Rock World Mining Trust PLC (BlackRock) for a US$12M non-dilutive
production Royalty investment. This transaction represents the first, firm and
secured funding parcel required to support the development of the ~12,000tpa
Antas North (Stage 1) Copper Mine.
Only other thing I would mention is AVB has had further DD to give additional deal cover, perhaps someone did not like the deal and they had to go this extra step.
All in all good house keeping, the market has only got eyes for the FML and will be no
sensible judge on this good announcement IMO.
AVB Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held