CDB has entered into a heads of agreement (HoA) with Signet, providing the exploration company the right to acquire a majority stake of up to 50.3% in The Duel and Tshipise 2 projects, held by Signet’s South African subsidiaries.
The agreement provided for a performance-triggered option by Condor to progressively acquire additional equity in the four projects, with short-term emphasis on the highly prospective The Duel and Tshipise 2 projects.
“It is CDB's intention to make it a priority to repay this debt through a trade sale or joint venture on The Duel project when they believe the optimal value of the project has been realised.
Maybe CDB has already issued shares to a potential investor/JV-Partner through Beaufort and is now working to finalise agreements with them. (xxx mio. Shares locked?)
Therefore CDB appointed Michael Leo Stafford as a Non-Executive Director. Maybe the lender is also the Joint Venture Partner. Now CDB has to prepare the announcements and agreements very carefully. They need somebody who is a Commercial Specialist.
Michael Leo Stafford He has been a practicing Solicitor for many years. Previously, Mr. Stafford advised on many "Initial Public Offerings" and various "Mergers and Acquisitions"
CDB Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
