SBS sub-sahara resources nl

more doesn't add up - olympian, page-5

  1. 7,409 Posts.
    If this deal goes through SBS wont be financing anything. Here's part of announcement:

    'Sub-Sahara Resources NL ( SBS) advises that it has received notice from Sunridge Gold Corp.
    (SGC) that it is exercising its option to purchase SBS’s 48% interest in Sub Sahara Resources
    ( Eritrea) Ltd, the company that holds the Asmara Joint Venture project licences in Eritrea. SGC
    has earned a 40% interest in the project and is .... Africa Wide Resources Limited (AWR ), holds the remaining 12% interest in the joint venture and has also
    received notification from SGC of its intention to exercise the option agreement that it has with
    SGC for its interest in the Asmara JV.'

    As I understand, if this deal goes through, SBS will have a share holding in SGC and this will be their exposure to the exploration. They will therefore be basically free carried ie no money will be required of SBS

    Sorry if I've misunderstood your question

    Cheers



 
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