The key commercial terms of the agreement are:
1. Rox will acquire 100% of the Mt Fisher project for a consideration of twenty million (20,000,000) fully
paid ordinary Rox Shares issued to Avoca.
2. Additional Rox shares will be issued to Avoca if the following milestones are met:
a) Twenty million (20,000,000) fully paid ordinary shares if a JORC Resource greater than two
hundred and fifty thousand (250,000) ounces of gold at a 0.8g/t cut-off is identified; and
b) Ten million (10,000,000) fully paid ordinary shares if a JORC Resource greater than one million
(1,000,000) ounces of gold at a 0.8g/t cut-off is identified.
3. The offer is subject to a 30 days Due Diligence period.
Shareholder approval will be required to issue the shares to Avoca and will be sought immediately the
due diligence is successfully completed.
- ENDS ?
So up to 50 million shares could be issued. My question is, would Avaco prefer Rox sp to increase signficantly before they receive their shares?
if, say, 30c a share @ up to 50 million shares issued = $15 million worth. Avaco could immediately dump half (or all) that, even if sp dropped 20c - 25c they would make a considerable sum (+ tax deduction for "loss"?).
??
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The key commercial terms of the agreement are:1. Rox will...
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Last
14.0¢ |
Change
0.005(3.70%) |
Mkt cap ! $57.21M |
Open | High | Low | Value | Volume |
14.5¢ | 14.5¢ | 14.0¢ | $35.31K | 246.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 188862 | 14.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
14.5¢ | 303969 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 188862 | 0.140 |
6 | 151933 | 0.135 |
11 | 1052184 | 0.130 |
7 | 266280 | 0.125 |
8 | 1501008 | 0.120 |
Price($) | Vol. | No. |
---|---|---|
0.145 | 303969 | 6 |
0.150 | 407940 | 4 |
0.155 | 300972 | 6 |
0.160 | 357356 | 4 |
0.165 | 102079 | 6 |
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