I was incorrect on the minority interests, QGX (10%) is free carried to decision to mine.
The Mongolian director can be asked to contribute. To date I don't think they have, so as not to delay the project. I expect this to change.
Yes I expect a buy out of minority interests, and XAM eventually, although a royalty would be nice.
Further, your math is correct, so far as the figures the company has sent to holders. However, I read the wording as the US$35 million going to Khuiten at which time it would be a JV, so that portion is only 50% attributable to XAM. This fits with the current share price.
Should your summary be correct, that 100% of the US$35m goes to XAM, who can then us this to fund their portion of the JV, then XAM is valued at less than its proforma cash balance, leaving the JV (which is now worth US$35m ) and Red Mountain as being completely discounted by the market...
I have emailed the company for clarity.
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Last
7.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $181.0M | |||
| Open | High | Low | Value | Volume |
| 7.9¢ | 8.0¢ | 7.9¢ | $1.745M | 22.08M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 4147335 | 7.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 8.0¢ | 16332615 | 34 |
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| Last trade - 16.10pm 17/06/2025 (20 minute delay) ? |
| XAM (ASX) Chart |