Possibly the key is in the announcement from OBM :
"The mining leases included in the Sale Tenements are the subject of applications for forfeiture and related Supreme Court proceedings. The Purchasers are affiliates of the applicant for forfeiture and transfer of the Sale Tenements will bring OBM’s defence of the forfeiture applications to an end."
So legally was best for Lamerton etc to be involved in the sale which would then cease all court activities and simplify for all concerned. I'm hoping now that next step is the material transaction for BCN when its transferred to BCN as others have said for cash/shares etc.
Considering the initial payment is $1m now and the other $9m in 30 days time it would make sense as i wouldn't think these guys would have $10m cash lying around (although you never know...) That might mean BCN pays the $9m cash in 30 days so Lamerton dont have to raise it and payment for the initial purchase $1m and fee for purchase is sorted also.
Happy days if this includes a consolidation IMO - didn't think of that and hope its true for the companies sake.
Cheers,
Disco.
BCN Price at posting:
2.8¢ Sentiment: None Disclosure: Held
