OTCPK:CTNXF - Post by User
Comment by
FoolAndHisMoneyon Jul 19, 2019 4:01pm
64 Views
Post# 29941397
RE:NSR
RE:NSRNot at all.
We are carried until completion of a BFS and that is at least 2 years away, and the carry is repayable only out of our share of earnings or dividends from a mining operation and then at Libor + 2%. After BFS is completed, however, we must contribute 15% of the ongoing costs ($150 million for every $850 million SOLG has to raise) or we are subject to dilution. If we dilute below 10% they can buy us out for $3.5M. Cascabel will be acquired by BHP and or Newcrest BEFORE SoLGold can do a BFS.