yes similar, but the key differential is that ENAMCO will pay ~$35M by January next year (as per SH agreement) to buy into the project.
Thereafter they will contribute to the funding of the development on a pro-rata basis commensurate with their paid interest (i.e. excl the 10% free carried). i.e. when it comes time to arrange finance CHN will cover 66.6% and ENAMCO 33.3%.
To my mind, this is a better arrangement than applied for Nevsun as ENAMCO's interest will be paid for 'up front' and during the finance/construction phase - when the cash is really required - rather than out of cash flows. This reduces the funding requirements for CHN and means that ENAMCO have a substantial amount of 'skin in the game' in its own right.
yes similar, but the key differential is that ENAMCO will pay...
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Last
$1.42 |
Change
0.045(3.27%) |
Mkt cap ! $552.3M | |||
| Open | High | Low | Value | Volume |
| $1.38 | $1.47 | $1.38 | $3.755M | 2.633M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 20000 | $1.42 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.43 | 92785 | 9 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| CHN (ASX) Chart |