We are in the end game now, page-142

Don’t know what others are reading but it ain’t company announcements-
We get-
100% operatorship
100% sales and distribution
100% ownership of cobalt land licenses
50% JV in cobalt plant
Unheard of the above for a junior

Top line - revenue potential
Now remember the plant has the capacity to process 250,00o t/ore for 12,000tpa concentrate for 3,500t to 4,500tpa cobalt (confirmed at AGM) at forecasted prices using LME spot that’s around $330m usd/ton

Initial CAPEX
- refer the factual details below
Upfront payment of Usd $5.5m...probably use the CR I’d imagine for this
300m shares (because partner wants skin in the game)...note the third tranche payable on reaching 1000tpa sales unlike what others suggested...so most likely 200m shares upfront
Now the $15tpa usd is only payable on ORE MINED on the licenses...not payable as part of artisanal arrangements, tailings or other company mine arrangments.
Now the maximum amount payable at 15pta usd if current whole lot of 250,000 ore is sourced would be a measly $3.75m...and please note they won’t be sourcing the whole lot from the mining licenses..
PLEASE READ
Now when we upgrade this beast to 1m tons ore processed we will making in excess of $1b gross revenue which means the potential cost to the JV would be $15m...peanuts compared to revenue potential
We need more accountant’s on this forum



Winmar is required to make a US$5.5m cash payment comprising reimbursement of development expenditure to acquire the 50% interest in the Luapula Cobalt Processing Facility and new joint venture company, on execution of the Joint Venture and Development Agreement and receipt of all shareholder, governmental and regulatory approvals.

depending on the prevailing LME cobalt price, in Years 4 to 10 and 1% for years 11 to 15. The Company retains the right to pre-pay the royalty in years 11 to 15 by making a single cash payment of US$9.5m at anytime during the first 12 months of the joint venture, subject to the application of the ASX Listing Rules and shareholder approval, if required.
In addition, the following share based payments are also to be paid in respect to the acquisition of the 50% interest in the Luapula Cobalt Processing Facility and new joint venture company:
(a) 100m fully ordinary shares issued on execution of the Joint Venture and Development Agreement;
(b) 100m fully ordinary shares issued on the commencement of concentrate sales by the new joint venture company; and
(c) 100m shares fully ordinary shares issued on the new joint venture company reaching 1,000t of contained cobalt in concentrate sales
The issue of the shares will also be subject to receipt of any regulatory and shareholder approvals and may be subject to ASX escrow.
Winmar is also required to make cash payments of US$1.25m comprising the reimbursement of exploration and development expenditures or the acquisition of the 100% interest in the six Exploration Licenses from Kampangwe and Muya, with approx. US$1.0m on completion of the acquisitions and US$280,000 three months after execution of a sale and purchase agreement with Kampangwe. Further milestone based consideration, includes the issue of 20m shares (which may be subject to ASX escrow) on the commencement of mining on any of the Exploration Licences and the payment of an amount of US$15 per tonne of ore mined from the Exploration Licences.