Pasinex Resources Ltd C.PSE

Financial results are on Sedar.com

[wolftrader]

https://sedar.com/GetFile.do?lang=EN&docClass=5&issuerNo=00024411&issuerType=03&projectNo=02763013&docId=4305729

https://sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=00024411&issuerType=03&projectNo=02763015&docId=4305728

[GoldenDreams]

I’m starting to understand the reason for the drop in share price and lack of enthusiasm for PSE. Our JV partner Arkmetal is holding on to the profits pretty tight. We ended the year with cash of close to $750,000, meh. The bulk of the profits will not be paid out as a dividend to the JV until 2019. That is $1,000,000 USD to PSE in 2018 and $6,000,000 USD in 2019. This may be a 50/50 JV but

[GoldenDreams]

Management needs to clarify something here. Things don’t seem to line up. Unless I’m missing something. GD On page 15 of MD&A. Funding sources for 2018 include dividends from Horzum AS and/or securing funding from either equity financing or related party loans. Horzum AS declared a TRY 40 million dividend payable to both of its 50% shareholders to be paid in instalments through 2018