Sf120 you just talk about the 250 cash and the debts.. but I was...

Sf120 you just talk about the 250 cash and the debts.. but I was reffering to the complete purchase deal and price details. And I have also included all other costs which the deal isn't speaking about but which are in our books, but which are still our liabilities after a possible deal..

Here the details and my conclusion:

"4. Purchase Price:

• Cash consideration of USD 250 million comprising:

(1) USD 230 million payable on Completion; and

(2) USD 20 million payable 3 months post Completion, subject to
typical working capital adjustments.

• Assumption of USD 10 million of liabilities in the form of local overdraft
facilities.

• Contingent royalty payments of up to USD 20 million.

So my own calculation based on the deal:
+ 250mn cash
+ 10mn fac.
+ 20mn royalties
(max. over 30month copper/cobalt)
= 280mn deal as a total!)

5. Royalty Deed
Terms:

• Sinomine HK is to pay copper and cobalt royalties of up to an aggregate of
USD 20 million to Tiger."

So we have a max. possible total gross cash-in of 260-280mn after 30month or ~ after 3 years. Minus 208mn debts and we have about 52-72 net cash. Than we have still other liabilities than the 208 mn debts in our books of about 20-30mn.. and therefore we will have an ending cash amount of around of 32-42mn (net cash impact) for tgs after the deal and the period of royalties has ended..