Wonder what the terms are.
Chalice should still have about 8mil in the bank. I assume Chalice still get the US$ 32 million ENAMCO payment (due on January 27, 2012)?
It also sounds like the 80mil is just for the Koka deposit.
And Chalice will keep Koka South, Debre Konate, Debre Tsaed, Konate–Alidar and Zara North tenaments; but Shanghai Construction will have the right to acquire them if/when we shore up a jorc resource.
And our other licence (Mogoraib North) will remain unaffected.
Without seeing the terms of the deal and without understanding it too well, sounds like a decent deal for shareholders. Will have to see tomorrow though when the company release their announcement.
china deal?, page-3
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