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It would be pretty dumb if EXC having made their deal announcement at 9.22 am on Monday, the very day they were expecting the second payment tranche of $ 150,000, to have proceeded in making this announcement if they were not 100% certain of receiving that second payment on Monday.. Likewise if not forthcoming from fortuna, they would be looking pretty dodgy to boot.
Rather, maybe a NEW third party has entered the fray !? Upon Saracen Minerals seeing the deal, surely they would do their sums and think they should have a crack at receiving the net csh of $ 28 mil EXC calculated they would get after 2.5 years ( including payback of the required $ 5 mil cap ex to get going.. after all, SAR would be processing the ore anyway
So, maybe SAR could justify paying more than the $ 7 mil cash or alternatively SAR shares
We will see
EXC Price at posting:
2.0¢ Sentiment: None Disclosure: Held
