Aston Bay Holdings Ltd V.BAY

AWM Halt

[traps7]

IMO, the terms here on the next financing , is just a matter of how much more Taurus can squezz out of AWM,,..

PS,..the last agreement , left the door open for Taurus to have first option on any futher financings over time frames..

PS,.Taurus , may - be looking to now extend their Royalty up from 1.95 % which now covers the entire 140k claim block. Now that the deep drilling has exposed the cement chalcocite wrap adding an-other layer of copper at depth. 

Taurus, IMO, has first take on any new financings..

Michael Davies, Taurus Chief Investment Officer, also commented:

“We are delighted to be furthering our involvement with the Storm Copper Project which is rapidly emerging as a high-grade, district-scale copper project. We look forward to working with the American West Metals team as they continue to grow Storm’s copper endowment and advance the project to production in the coming years.”

KEY ROYALTY TERMS

The key terms of the Taurus royalty package are set out below:

1. US$12.5 million funding

Funds will be advanced at the following stages:

1. US$5 million on signing of formal documentation and financial close.
2. US$3.5 million upon delivery of a pre-feasibility study for Storm and submission of permitting documents for a development at Storm.
3. US$4 million upon delivery of a resource increase in the JORC compliant resource for Storm to at least 400,000 tonnes of contained copper at a resource grade of at least 1.00% Cu.

2. Royalty

Taurus will be granted the following royalties over Storm:

1. A 0.95% GOR on the sale of all product from Storm.
2. A 0.50% GOR over any additional mineral rights acquired by American West within 5km of the current extents of the Storm Project (“AOI Royalty”).

The 0.95% GOR, together with the historical 0.875% GOR over Storm acquired by Taurus from a third party earlier this year, will give Taurus a total 1.825% GOR over Storm. (The historical 0.875% GOR was held by Commander Resources Inc, a previous owner of the Storm Project).

The historical GOR included a buyback right whereby the GOR could be reduced from 0.875% to 0.475% by payment of C$4 million. This buyback right will be cancelled as part of the new royalty arrangements.

Taurus will have the right to match any royalty or streaming transaction associated with the Storm Project up until 12 months following the declaration of commercial production at the Project.

The new royalty arrangements will be documented in formal documentation that will reflect the above commercial terms and will contain such other terms and conditions that are customary for royalty financings of this kind.

Let The Drills Be Our Friends 

Traps7

[TheNextBigThing]

From a BAY shareholders perspective, I rather AW just issue shared to raise money then sell more income stream. Ideally will sell our 20% when the price and not continue reducing the cash flow at these lower levels. 

[traps7]

Bay, did hand AWM an advanced exploration project.  Thanx to AWM for understanding what the gift basket contain  PS,.AWM, will need a big raise here in - order to get the PFS up-graded to Bankable FS. IMO,  a PP would have to - be done at a buck seeing at least $ 25m required to carry out the deep drilling next spring along setting up DSO equipment. . PS, last qtr of year

[schocor]

I find the propsect of a micro cap royalty investment company (Taurus) re-upping on Storm hard to believe. Diversification is the key to success in that business. Taurus needs to build a portfolio; not double down.