OTCPK:CTNXF - Post by User
Post by
MrShillon Jul 19, 2019 9:09am
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Post# 29938949
July 19 news release
July 19 news releaseThis is our down fall right here guys from news release.
Call Brooke and ask him to explain this to you in layman terms?
Also I now believe this is why no other company is scratching at the door, we have nothing in the long run. The biggest share we have now in CGP in the few shares the company purchased in SolGold, and when their roll back comes which can be as high as 45 to 1 based on CGP share structure, I can't type no more because I feel like pounding the key board through my desk. IMO
About the Cascabel Joint Venture with SolGold:
Exploraciones Novomining S.A. ("ENSA"), an Ecuadorian company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold's fully funding the project through to completion of a feasibility study, SolGold will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold is funding 100% of the exploration at Cascabel and is the operator of the project. SolGold shall receive 90% of Cornerstone's distribution of earnings or dividends from ENSA to which Cornerstone would otherwise be entitled until such time as the amounts so received equal the aggregate amount of expenditures incurred by SolGold that would have otherwise been payable by Cornerstone, plus interest thereon from the dates such expenditures were incurred at a rate per annum equal to LIBOR plus 2 per cent until such time as SolGold is fully reimbursed.