E 52/2438 - AUR's Doolgunna tenement, page-40

I've had a look.

2010 - $100,000 (original fee for the option to buy)
2012 - 50,000 (variation of Deed fee)
2013 - 50,000 (option extension fee)
2015 - 50,000 (option extension fee)
2016 - 150,000 (1st payment instalment to buy)
2016 - 500,000 ( 2nd instalment to buy)

That's a total of $900,000 so far. Then there is another (final) instalment payment to buy of $300,000 due in 9 days time.

So, all-up, $250,000 in fees and $950,000 to buy. It needs to be noted though that in the original 2010 deal Ascidian had a right to acquire 20% of the company upon exercise of option and no money to be paid, but that was varied in 2012 to have a cash payment of $2,000,000 plus 3m shares on exercise of the option instead of 20%. The deal was changed again on 2/2/16 to reduce the $2,000,000 to $950,000 plus options and shares. That was a substantial cash price reduction. The shares must have compensated.

In July last year, as part of the new deal, he got $200k's worth of shares = 15,593,000 issued at 1.28c (pre-con'n). That was on top of the $500,000 cash at the same time. On payment of the last lot ($300,000) next week he gets $400ks worth of shares at the greater of 10c (post con) or VWAP - minimum of 4,000,000 shares .

In July 2013, at the same time as getting $50,000, he received 3,000,000 shares. Price then was???.

I suspect that he sold many of his shares. Ascidian Prospecting did not appear in the Annual Report top 20 list late last year. Do the same again?

There is also the 1.5% royalty.