Could be that C.P.P.L. are a venture capital outfit that buy up...

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Satyricon

51 Posts.

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16/12/17

16:25

Post #: 29680466
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Originally posted by Namvo ↑

"And why is Cobalt Prospecting selling the Husky and Malamute tenements? it seems to within their scope of operations, and they would certainly know of the potential of the ground.":

* The NSW projects only received the exploration licence in Oct 2017
* Looks like C.P. fully knows the potential of the projects. However, there could be capital restriction for advancing the projects. Therefore, they have sold Cobalt Prospecting P/L to Vic. In say so, even after the acquisition C.P still have a voice due to the amount of shares that they will hold.

"Could C.P. (whomever they are?) withdraw once VIC has done the due diligence desktop reviews and proceed forward to the JORC work?"

* The data of the DD are supplied by C.P. and also gathering from government data base and data base from other companies near by.

* Once Gm is finalised all the required documentations can take place even before they can enter onsite to commence.

"And does anyone have an idea of what the buy price will likely be and how VIC will financially achieve the sale.:

Refer to 14/12 ann:

https://newswire.iguana2.com/af5f4d...5544/VIC_Notice_of_General_Meeting_Proxy_Form

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Could be that C.P.P.L. are a venture capital outfit that buy up tenements surrounding know deposits then enter into agreement with other ASX listed companies to take the risk? this way they can free ride a good JORC and or sell out to re-capitalise when it becomes convenient. Not a bad business model! Could I hazard a gues and implicate Sydney based South African interests at work here? Would still like to know who C.P.P.L. are and their history.

VIC Price at posting: 1.3¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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