This one is at a silly price but no more for me.
Coronet Metals Inc. (CRF.V) is up 3 cents today at 24 cents a share with the gold prospecting company saying it has renegotiated the purchase price to acquire the Yanamina gold project in Peru from Latin Gold Ltd, reducing its cash outlay to $3.25 million and the overall cost of the deal to $12.75 million.
The companies in June a $14 million acquisition, with Coronet paying US$1.75 million in cash and issuing 3.3 million shares of its stock to Latin. Another $3.75 million in cash was held by Coronet subject to Latin receiving a favorable ruling from Peruvian tax authorities for the transaction. That ruling was received in August but the companies agreed to re-negotiate the final payments because of certain teriary issues, with Coronet keeping all but $1.5 million of the remaining cash.
Coronet will retain US$2.25 million of the US$3.75 million it has held since the that has been held by Coronet at closing. US$1.5 million will be released to Latin after they place their Coronet shares in escrow. (See below). Also, as part of the amendment, Coronet will issue Latin US$1 million worth of Coronet shares after the first gold pour at Yanamina. This amendment effectively reduces the original US$14 million purchase consideration to US$12.75 million.
http://community.nasdaq.com/News/2011-11/coronet-metals-reduces-yanamina-purchase-by-125m-will-now-pay-1275-in-cash-stock.aspx?storyid=101331
- Forums
- ASX - By Stock
- Ann: Quarterly Activities Report
This one is at a silly price but no more for me.Coronet Metals...
-
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LAT (ASX) to my watchlist
|
|||||
Last
10.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $14.26M |
Open | High | Low | Value | Volume |
10.0¢ | 11.0¢ | 10.0¢ | $3.503K | 34.19K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 68203 | 10.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
11.0¢ | 9865 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 68203 | 0.100 |
1 | 20 | 0.097 |
1 | 10000 | 0.095 |
1 | 100000 | 0.092 |
1 | 1000 | 0.090 |
Price($) | Vol. | No. |
---|---|---|
0.110 | 9865 | 1 |
0.115 | 63956 | 2 |
0.120 | 116406 | 3 |
0.125 | 95000 | 1 |
0.130 | 38431 | 1 |
Last trade - 15.59pm 12/09/2024 (20 minute delay) ? |
Featured News
LAT (ASX) Chart |