Outstanding CommitmentsHello fellow PLAN shareholders,
While we wait for the end of the fourth quarter and the release of the 2022 audited financial statements, there is still a wealth of pre APL acquistion data presented in the January 31, 2022 quarterly statements and MD&A. I maintain a comprehensive financial model as part of my PLAN due diligence file, and update this spreadsheet based compendium as each quarterly report is released.
In the commitment section we now have the following outstanding commitments that PLAN must fund, in addition to its recently completed buyout of Absorbant Products Limited, to complete the acquisition option agreements for 2 of the 3 existing properties (Property Z1 is now 100% owned):
Z2 - an additional 66,667 common shares and $10,000 on or before October 22, 2022.
Z3 - $12,500 cash payment on or before Feb 10 2023 and $15,000 cash on or before Feb 10 2024, and spending an additional $100,000 on exploration on or before Feb 10 2024.
WIth the common shares trading today at $0.35, I would be happy to see the Company purchase on the open market the 66,667 common shares ($23,333.45) required for the Z2 commitment, demonstrating a corporate focus to limit further dilution of currently issued and outstanding share base.
I will address royalty commitments in my next post.
Cheers,
S.