Market cap before this announcement was $5.2M. Project sold for $12.5M (mix of shares, cash, scrip and settlement of creditors on project). Picked a bad day to be announcing this, but eventually sp must go from 9c to 20c. However, that leaves them with no project, other than the shares they holding company buying the project.
Not sure they have anything else of value project wise. I think that leaves them as pretty much a cashed up company looking for a project.
Ann: Sale of Manica Gold Project, page-2
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