Post by
muihtiltlaboc on Jun 22, 2022 6:14am
Share price / MAJORITY STAKE IN THE MANONO LITHIUM TAILINGS
The announcement says:
TTX ... has effectively exercised its option to acquire an additional 27% stake in the MINOCOM SAS joint venture from MINOR SARL for a total consideration of USD $500,000 and the issuance of 35,000,000 common shares of TTX pursuant to an amending agreement executed on May 17, 2022. The original contract was dated July 15, 2021 in which the original consideration was USD $10,000,000 or the issuance of 20,000,000 common shares of TTX, at the sole option of MINOR.
Calculation
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Original: USD $10,000,000
Now: USD $500,000 and 35,000,000 shares => 35,000,000 shares worth USD $9,500,000 => USD $0.27 / share
=> CAN $ 0.36 / share
Did I miss something?
Comment by
ErinBrockovich on Jun 22, 2022 8:40am
The total float is 500 million shares.
Comment by
KozmoT on Jun 22, 2022 11:04am
You forget the original deal was before they drilled the waste dumps and got the assays back - the assays sucked and were nowhere near what promoters were spewing beforehand; why do you think they still haven't disclosed the rest of the assays from a drill program that took place last summer? why do you think the Ximei deal from Feb 2021 is dead in the water?