someone correct me if I'm wrong but does the below excerpt from the report to shareholders not mean that LPD could essentially buy out their entire Lithium interests and MXR would not be a lithium player?
Column 1 0 During August 2017 the Company signed a Binding Term Sheet with Lepidico Ltd (Lepidico) under which Lepidico can earn a 75% interest in the Company’s lithium rights located on the Spargoville Project. Lepidico must meet the following terms to earn the 75% interest in the lithium rights:
On execution of the term sheet, payment to the Company of $80,000 Lepidico shares, at a 5 day VWAP issue price (issued 21 August 2017);
Six months after execution, payment to the Company of $120,000 in cash or Lepidico shares at a 5 day VWAP issue price; and
12 months after execution, payment to the Company of $150,000 in cash or Lepdico shares at a 5 day VWAP issue price.
At anytime within the three years, and after the third payment detailed above, Lepidico can secure 100% of the Lithium Rights by making a payment of $400,000 as either cash, or a combination of 50% cash and 50% Lepidco shares
someone correct me if I'm wrong but does the below excerpt from...
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| Last trade - 14.56pm 14/05/2024 (20 minute delay) ? |
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Last
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Change
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| Last updated 14.56pm 14/05/2024 ? | |||||
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