2 directors are replaced by 2 new directors from the biggest shareholder who is also the off-take partner and funder. I makes perfect sense that Quantum Metals wants to advance the project to production under their own supervision (by their own directors).
I am certainly happy with this change of directors. It makes complete sense to me. This 3mil oz of gold purchase off-take deal is worth around AUD $9bil It is a mega-deal and Quantum cannot let JB fk it up. I would do the same if I was Quantum.
Only 1.5% of NBG shares to be bought out by BEZ (probably around $1mil to $1.2mil cash). I certainly think they are negotiating to buy it out completely before we will see more regular newsflows.
DYOR
BEZ Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
