CLE 0.00% 0.1¢ cyclone metals limited

dividend payment, page-31

  1. 5,510 Posts.
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    Don't forget guys that CFE issued some 45 million shares for Marampa. It's not just that they have to spend US$5 million on proving the resource, before deciding whether to continue or not.

    Also, I've read & re-read the details surrounding the US$80 million still forthcoming from the sale to MCC. I believe the funds will be due as soon as the mining/construction licences are issued, providing they are issued within 2 years of the date of sale. This is different from other posters interpretation, where CFE gets the 80 million within 2 years of MCC receiving the licenses. US$7.6 million of that will come out as commission related to the sale. US$30.4 million was already paid in this respect (refer Sept quarterly).

    Cheers,
    Z.
 
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