As i understand it Grangeh a wholly owned subsiduary is able to lend funds at will given it is owned by Transol completely.Of interest recently The Directors of Transol Corporation Limited (Transol), through its wholly owned subsidiary Liberty Mining International Pty Ltd (Liberty), advised that it has terminated its Joint Venture Agreement with Basileia Cambodia Co. Ltd (Basileia) on its Andong Bor Gold Project in North Western Cambodia as Basileia has was unable to meet its expenditure commitments under the terms of the joint venture. The cash payments totalling US$400,000 that have been paid to Liberty by Basileia under the joint venture will not be refunded. The Project boasts carbonate replacement mineralisation associated with dacite porphyry and calcareous sediment sequence, and is the subject of significant interest from other third parties. Transol is currently assessing opportunities with other joint venture partners, and will update the market accordingly.
TNC Price at posting:
0.4¢ Sentiment: LT Buy Disclosure: Held
