Provided that the deal with WISCO Steel goes according to plan, CXM will be paid $59.5 million within 7 days of the signing of formal agreements (expected around March), and potential staged payments totalling approximately $120 million.
This will place CXM in a great position to emerge as a producer of iron ore at a time when many other exploration juniors are struggling to stay afloat.
WISCO are also expected to assist with the construction of infrastructure in order to export material.
CXM look IMO to be a company with great potential which will be cashed up in the near future.
ref: see Quarterly Activities & Cashflow Report.
Love to hear some other opinions.
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