RE:New Press Release - Forum Energy Metals and Traction Uranium Complete Airborne Geophysical Survey on the Grease River Project, Athabasca BasinA few simple numbers June 29, 2023 :
FMC current share Price $0.075 Outstanding Shares 201.8 million
Therefore Market Cap $15.135 million
Traction entered into an option agreement with Forum whereby Traction is entitled to acquire a 51% interest in the Property by paying an aggregate of $250,000, issuing an aggregate of 1,625,000 common shares and funding an aggregate of $3 million in exploration expenditures on the Property by December 31, 2025.
Traction (TRAC) Current Share Price $0.32 0.32 X 1.625 = $0.52 million
$250,000 + $520,000 + 3 million (exploration exp.) = $3.77 million
I guess that this is Life Reality , as a very junior company with funding required for exploration.
Traction has the further option to earn up to 100% interest in the project by making $1.7 million in cash payments, 5.5 million share payments and $6 million in exploration up until December 31, 2028. Forum would retain a 2% Net Smelter Return Royalty and $8 million in milestone payments (see News Release dated February 7, 2023)
Peace,
Good Decision-making to All,
ElJ