A JV like how bay structured it is extremely common. One could find hundreds of examples where the major takes 50% with optionality to earn 75-80% in exchange for usually around 5m in drilling. Buxton resources is one example off the top of my head with IGO. Deals slightly vary but this is very common for a cash strapped junior like bay was. If people are interested I can add some additional context on the TSX and capital raising for mining there.
Bay obviously had GREAT confidence in it because they went straight to working out a bigger deal with AW1 which is a win-win for both sides. AW1 gets 80%, more than 10m of drilling has taken place and even more will take place with bay free carried until FID. This is a great deal for bay but also for AW1 who is getting 80% of extremely prospective ground.
On a side note here, anyone also a bay shareholder?
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Mkt cap ! $64.70M |
Open | High | Low | Value | Volume |
12.0¢ | 12.5¢ | 12.0¢ | $99.16K | 803.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
16 | 1974370 | 12.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
12.5¢ | 9 | 1 |
View Market Depth
No. | Vol. | Price($) |
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15 | 1474370 | 0.120 |
5 | 774356 | 0.115 |
9 | 918454 | 0.110 |
4 | 478648 | 0.105 |
8 | 827200 | 0.100 |
Price($) | Vol. | No. |
---|---|---|
0.125 | 9 | 1 |
0.130 | 407136 | 8 |
0.135 | 336522 | 5 |
0.140 | 563401 | 5 |
0.145 | 291538 | 6 |
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