Hi spid81, according to Mike Elliott the project is construction-ready...
There is no time limit on shares being issued...
10.-(1) In any mining operations under a mining licence or a special mining licence the Government shall have not less than sixteen percent non-dilutable free carried interest shares in the capital of a mining company depending on the type of minerals and the level of investment.
(2) In addition to the free carried interest shares, the Government shall be entitled to acquire, in total, up to fifty percent of the shares of the mining company commensurate with the total tax expenditures incurred by the Government in favour of the mining company.
(3) Acquisition by the Government of shares in the Company shall be determined by the total value of the tax expenditures enjoyed by the mining company.
Lindi Jumbo grants the Government 16% free carried non-dilutable shares in the Company which have the same rights as those currently held by the Shareholders...Maybe look into free carried interest to improve your poor understanding...B Class shares are automatically adjusted non-dilutable to more A-class shares being issued
B Class shares are only payable at the time of a dividend...No capital value is attached to B Class shares...
Regards Croc
WKT Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
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