I never mentioned URA. What I did mention is what Impondo will get as listed below and the dilution that will come with it. This very much has to do with KAB's future.
Impondo will receive.....
Group will issue 80,000,000 Shares with 80,000,000 free attaching options on the Zambian Manganese Projects achieve a minimum of 10,000,000 tonnes of JORC.
the Group will issue 80,000,000 Shares with 80,000,000 free attaching options exercisable at $0.08 on or before 1 April 2014 on the date the Zambian Manganese Projects achieve a minimum manganese production of 30,000 tonnes per month of JORC (or equivalent) Saleable Manganese Ore for at least 3 months within any 6 month period, provided that it is achieved within 30 months from the execution of the share sale agreement
The Company will also pay a $1 per tonne royalty to parties nominated by AAMD as consideration for the acquisition.
At a wild guess I will say drilling will stop just north of 10m tonnes
KAB Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
