RED 5 August 31/21 update re TVIRD's SIANA purchase...Note the last point.Should be finalized sonn IMO.
On 29 July 2021, Red 5 announced a Binding Agreement to divest Siana to TVI Resource Development (Phils.) Inc (TVIRD). Key details of this agreement included: • US$19.0 million cash (A$25.7 million equivalent) payable upon financial close; • Net Smelter Return royalty of 3.25% payable for up to 619,000 ounces of gold, with an estimated future face value of US$36.0 million (based on a US$1,800/oz gold price) (Royalty); • TVIRD is in the advanced stages of securing funding to restart the Siana gold mine, which is expected to re-commence operations in the first half of 2023 • Red 5 and TVIRD are close to completing financial close.