Lot of bullocks mate , it was a red day yesterday and many short term (aka Twitter pumpers etc) took their lesson ….all in line and max shares will be 200m but they have to find finance (debt) to achieve second trance … here’s Steven’s response to my email yesterday :
“Wardell Armstrong produced a detailed grade tonnage curve for the Board so as to determine if the Milestone 1 had been met. The curve clearly shows >10,000t of WO3 grading at least 0.18% is contained within Measured and Indicated.
The Milestone 2 is for an ore reserve of greater than 7000t following the Milestone 1 delivery. The clock has not started on that one yet (the Dec 2020 PFS only contained 4,600t ore reserves)- however there is a long stop date being 3 years from issuance, so Milestone 2 needs to be met by end of August 2022.
I do hold some Vendor shares. Not many. I worked for equity before this deal was closed and was awarded some shares for my efforts.
As for the sell down, we do not know at this stage. None of our existing brokers sold down. We need to wait a few days and see the detailed movements.”
