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2.0¢ energy transition minerals ltd

News: GGG Shenghe Resources' rare earth unit to acquire stake in Australia's Greenland Minerals, page-22

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Zogeel

519 Posts.

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28/09/16

09:25

Post #: 19466756
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Originally posted by Apollo6642 ↑

I was surprised that this was not mentioned in the GGG announcement, however as it was not I can only think that it was a translation error. If Shenghe indeed had an option over 60% of the project GGG would be required to disclose this fact.

I have included the translated paragraph below, however I can take no responsibility for its accuracy

"2, the project interests
Upon approval by the relevant Government of Greenland for the application of the Target Company for mining rights in the Kovani Bay Project, Upon the satisfaction of the parties' progress, the Subscriber may notify the Company in writing that it wishes to obtain Project 60% interest. Upon receipt of the notice, the parties will negotiate the terms of the M & A transaction, including acceptance The purchase price of the transaction, the financing of the project, and the establishment of a joint venture entity (whether corporate or unincorporated) to develop the project. The M & A will be subject to all necessary government approvals."

Google translated Shenghe announcement

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Thanks, but the matter is still unclear, so I've emailed GGG to find out. Will advise what they tell me.

GGG Price at posting: 5.0¢ Sentiment: Buy Disclosure: Held
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