Risk V/S Reward on NRM
We all know the risk we take on these juniors is high and that people find giving 50% away at the end of our deal with ALBA somehow unacceptable. Noram is small company and like most don't have much money but we have a banker on our management team and he put this deal together. Noram got the first payment of C127,500 ready and get another C127,500 when the 55 holes are drilled for a 25% earned interest. Our 2nd payment by march 2017 of C200,000 for a extra 5% and this goes on and they increase in the amount in 3 month intervals for 5% every time till Alba has 50% of NRM. Its not just bang! Off the start ALBA gets half of NRM there are a lot of payments and steps required to get half. Albemarle gave 6.2 billion for the Rockwood Lithium mine. Half of that sounds pretty good! Without a driller and financing. Half of nothing is nothing! After the 5th payment it also says there is an issuance of ALBA shares to Noram. So maybe get some of that 50% back. I find that very interest. Not a bad deal for a company that has no money and needed partner in my opinion. Merry Xmas and GLTA