They raised 1.7 M$ in September and the shares were issued in September
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I can't see anything other than 42k in purchases of property/plant/equipment for a Rahu purchase price. Thoughts anyone?
When did they purchase Rahu? Was it after this quarterly report? And if it was only 42k that would have to be the bargain of the year, unless its just a very big hole.
Key terms of the agreement include:
- Should Newcrest spend NZ$5.0 million on the Rahu Project a Joint Venture will beestablished at that time and a direct 20% interest transferred to NTL.
- In the interim 20% of the Rahu project will be held on Trust by Newcrest on behalf ofNTL subject to Ministerial consent.
- Newcrest will manage the exploration activity on the Rahu Project.
- If a joint venture is not established 100% of the project would be transferred to NTL
subject to Ministerial consent.- Upon formation of a joint venture each party will be required pay their respective
exploration and development costs on a pro-rata basis.- If NTL dilutes to below 10% equity, this equity would convert to a Net Smelter Return,
(NSR) of 2.5%.
Does anyone know if the JV was established
well the heading is "current quarter, NZD $000's" so I am presuming 1,250 is actually $1,250,000 which is $1.25M.
But I can see where the ambiguity comes in because if the headings are correct then they have overstated all other cashflows as well. Probably a balls up by the company. I just did some recon, and you are right it does look like 1,250 so maybe they are putting all the SPP cash in the next quarterly because they were waiting for the SPP to finish? Who knows.