By my understanding, we've agreed to a settlement that results in a convertible note for 15% of the holding company that (may or may not ever mine the site) and an option for 7.5% all when the company is floated whenever or where ever they do it.
We have then agreed to sell that to a different company for US$80 Million. So in effect we have settled for US$80 Million.
Is that everyone else read on that? I had to read the announcement a couple of times.
Basically doubles the companies cash holdings and puts this pretty sad chapter behind us.
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