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1.27% 8.0¢ vertex minerals limited

Ann: Term Sheet for US$10M Prepayment Facility, page-35

  1. burner_7
    272 Posts.
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    03/06/24
    22:11
    Post #: 74145921
    Hey mate, the 20,000oz is the offtake portion of the facility, with Vertex being paid for it minus a small deduction so Ocean Partners can clip their ticket one more time.

    I was also a bit confused about the wording in the announcement as it does read like the 20,000 is the cost of the prepayment but I emailed the company and they confirmed the 20k Oz gold is at the London Bullion market association spot price minus a small discount.

    It would be the worst funding deal I've ever seen if it actually was $10mill for 20,000oz of gold and that's before you add the interest and costs etc.

    Cheers


    VTX Price at posting: 8.3¢ Sentiment: Buy Disclosure: Held
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