Wow, this is pretty good! 31 million from Sinomine and a binding off take agreement for 50% of all the spodumene!
Funding is two stages, first stage is 14.5 million with 10 million into the Mauritius based subsidiary of TYX. 4.5 million is into TYX at 0.025. So that is non-dilutive funding.
Second stage is similar with another 10 million into the subsidiary and 6.75 million into TYX at 0.0375 per share or a 25% discount to the 5 day VWAP (whichever is higher).
No surprise it took a bit longer! Very happy. Management will be able to fast track!
Ann: TYX Secures Funding and Off Take Partner for over AUD $31M, page-4
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